Q5. Please show all steps to make the question worth any marks

On January 1, 2015, Atlantis Corp. offered three-year, 5% convertible bonds with a par value of $1,000. Each $1,000 bond may be converted into 100 common shares, which are currently trading at $5 per share. Similar bonds carry an interest rate of 8%. Atlantis issued 1,000 bonds at par and allocated the proceeds under the residual method using debt first with the remainder of the proceeds allocated to the option. On January 1, 2017, right after the interest payment, Atlantis decided to retire the convertible debt early and offered the bondholders $1, 100,000 cash, which is the fair value of the instrument at the time of early retirement. The fair value of the debt portion of the convertible bonds is $981, 462. The company follows IFRS. (round final answers to the nearest whole number) a. Record the entry (ies) for the bond issuance b. Record the entry (ies) for the bond retirement