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On July 1, 2023, Tien Limited called its 10% convertible bonds for conversion. The $18,000,000 of par value bonds were converted into 1,800,000 common

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On July 1, 2023, Tien Limited called its 10% convertible bonds for conversion. The $18,000,000 of par value bonds were converted into 1,800,000 common shares. On July 1, there was $75,000 of unamortized discount applicable to the bonds, and the company paid an additional $85,000 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 $17,955,000. The company records conversion using the book value method. Prepare the journal entries if Tien prepares its financial statements using IFRS and if it uses ASPE. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) a) IFRS: Account Titles and Explanation b) ASPE: Debit Credit Account Titles and Explanation Debit Credit

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