On January 1, 2018, Gless Textiles issued $12.4 million of 7%, 10year convertible bonds at 104. The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible Into 40 shares of Gless's no par common stock. Bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). Century Services purchased 8% of the issue as an investment. Requlred: Assume Gless Textiles prepares its financlal statements according to International Financial Reporting Standards. Prepare the journal entry for the Issuance of the bonds by Gless using the net method. (If no entry Is required for a transection/event, select "No Journal entry requlred" In the first account field. Enter your answers In whole dollars.) ournal entry worksheet Record the entry for the issuance of bonds by Gless under IFRS using the net method. Note: Enter debits before credits. Event General Journal Debit Credit