Problem Solving Question IV (12 pts) On January 1, 2003, Ginseng Corp. issues $3,000 of 5% bonds whichmay be converted into total 100 shares of $2 par value ordinary shares. The market rate Interest is payable annually on December 3i, and the bonds were to ordinary maturity date is December 31, 2006. All the bonds are converted maturity date, December 31,2006. of interest is 6%. bonds were issued at par. The , based on IFRS. (4 pts) 2003, based on IFRS. (4 pts) (1) Prepare the journal entry on January 1, 2003 (2) Prepare the journal entry on December 31, the jounal entry on December 31, 2006, based on IFRS. (4 pts)