Oriole Inc. purchases an investment for $1,030 on January 1,2024 . This exposes the company to a market risk-the risk that the shares will decline in value. The shares trade on a local stock exchange. The investment is designated as FV-OCI under IFRS. Under ASPE, the shares are accounted for as FV-NI investments because there is an active market. Assume that on the same date, the company also enters into a derivative contract in which it purchases an option to sell the shares at $1,030 to protect itself against losses in value of the security. The cost of the option is $10. If the value of the shares declines, the company can sell the shares under the option for $1,030-thus limiting any loss. As a derivative, the option will be measured at fair value, with subsequent gains and losses booked to net income. This is before any hedge accounting is applied. Prepare the journal entries under both IFRS and ASPE to record the investment and the derivative contract. (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 0 for the amounts. List all debit entries before credit entries.) Account Titles and Explanation Debit Credit ASPE (To record the investment) (To record the derivative contract)