On July 1, 2020, Tien Limited called its 6% convertible bonds for conversion. The $34,000,000 of par value bonds were converted into 3,400,000 common shares. On July 1, there was $75,000 of unamortized discount applicable to the bonds, and the company paid an additional $75,000 to the bondholders to induce conversion of all the bonds. At the time of conversion, the balance in the account Contributed Surplus-Conversion Rights was $250,000, and the bond's fair value (ignoring the conversion feature) was $33,955,000. The company records conversion using the book value method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) a) IFRS: Credit Account Titles and Explanation Loss on Redemption of Bonds Debit 75.000 Bonds Payable 33.955.000 Contributed Surplus - Conversion Rights 250,000 Common Shares 34,205,000 Cash 75.000 b) ASPE: Debit Credit Account Titles and Explanation Retained Earnings 30,000 Loss on Redemption of Bonds 45,000 Bonds Payable 33.955.000 Contributed Surplus - Conversion Rights 250,000 Common Shares 34,205,000 Cash 75,000