Question $2$ of s$50,424.$ The borids were convertible to common shares at a rate of $12$ common shares per bond. Pina amortired bond premiums and discounts using the effective interest mechod, and the company's year end was December $3$t$.$

On Jaruiary $1,2021,20$ of the bonds were corverted into common shares.

Required

Assuming Pina uses IFRS prepare the journal entries required at the following dates

a$.$ January $1,2020$

b$.$ December $31,2020$

c$.$ January $1,2021$

Assuming Pina uses ASPE prepare the journal entries required at the following dates under both choices available Private Entity GAAR.

a$.$ January $1,2020$

b$.$ December $31,2020$

c$.$ January $1,2021$