Scenario 1 (10%) Company D issued $ 6,000,000 of bonds paying 4% on January 1, 2020. Transaction costs of $ 50,000 were incurred on this date. The bonds mature in 5 years. Interest is paid semi annually (June 30 and December 31). The market rate of interest was 5% at the time of issuance. Market rate at end of 2020 is 3%.The market rate at end of 2021 was 4%. On December 31, 2022 Company D repurchased the bonds in the marketplace when the market interest rate was 6.5% Required. Using IFRS only, for both the amortized cost method and the FV-NI method, prepare the journal entries for 2020 and for the repurchase on December 31, 2022. Scenario 2 (10%) Company E purchased land on January 1, 2020. To pay for the land they issued a note payable for $ 800,000 due December 31, 2025. The note has no interest payments. Company E currently pays 6% on a loan they have with a commercial bank. According to property tax reports the land has a value of $ 500,000 on January 1, 2020. Required. Using ASPE discuss and calculate the two options Company E has for recording the land. Prepare the journal entries for 2020 under both options.