Question 3. (15 Marks) On January 1, 2018, Wassup Inc. (WI), an IFRS compliant company, issued the following complex financial instrument for total cash proceeds of $6,200,000: $6,000,000 Convertible Bond bearing interest annually of 8% Each $1,000 bond certificate can be converted into 40 ordinary shares at any time before the bond's maturity date of December 31, 2021. The bond is callable at any time by WI at a call premium of 4% above par. The bond market yield is 9.5% for a non-convertible bond similar to WT's Other relevant transactions occurred on the following dates: December 31, 2019: Paid the interest due on the bond and recorded the appropriate amortization of the bond using the effective interest method. January 1, 2020: One third of the bonds were converted at the option of the holders. January 1, 2020: WI entered into a two year interest rate swap with DI Corp. WI receives 8% fixed on a notional amount of $4,000,000 and pays variable at prime +1% where prime is set at 7%. WI opts to not use hedge accounting for this swap contract. December 31, 2020: Paid the interest due on the bond and recorded the appropriate amortization of the bond using the effective interest method. January 1, 2021: Prime is reset to 5% on the swap contract. The swap contract value is $113,000. January 1, 2021: $1,500,000 of the bonds (face value) were called in by WI. December 31, 2021: Paid the interest due on the bond and recorded the appropriate amortization of the bond using the effective interest method. December 31, 2021: The remainder of the bonds were settled as they matured on this date. January 1, 2022: The swap contract was settled. Required: (round to the nearest dollar) Prepare the journal entries for each date listed above. State if no entry is required.