On January 1, 2021, Gless Textiles issued $13.4 million of 10%, 10-year convertible bonds at 103. 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 11% of the issue as an Investment. Required: Assume Gless Textiles prepares its financial 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 transaction/event, select "No journal entry required" In the first account field. Enter your answers in whole dollars.) Answer is complete but not entirely correct. Credit No 1 Event 1 Debit 13,802,000 General Journal Cash Convertible bonds payable Equity - conversion option 13,400,000 X 402,000 X