The before-tax income for Hawks Corp. for 2019 was $112,500; for 2020, it was $78,600. However, the accountant noted that the following errors had been made:

1.

Sales for 2019 included $38,300 that had been received in cash during 2019, but for which the related products were delivered in 2020. Title did not pass to the purchaser until 2020.

2.

Ending inventory on December 31, 2019, was understated by $8,740. The December 31, 2020 ending inventory has not yet been adjusted to the Inventory account. Assume that Hawks has a periodic inventory system and that no adjustment has been made to the opening balance of the Inventory account.

3.

The bookkeeper, in recording interest expense for both 2019 and 2020 on bonds payable, made the following entry each year:

Interest Expense			15,000
	Cash				15,000

The bonds have a face value of $250,000 and pay a stated interest rate of 6%. They were issued at a discount of $15,000 on January 1, 2019, to yield an effective interest rate of 7%. (Use the effective interest method.)

4.

Ordinary repairs to equipment had been charged in error to the Equipment account during 2019 and 2020. In total, repairs in the amount of $8,700 in 2019 and $9,300 in 2020 were charged in this way. The company uses the declining balance method and applies a rate of 10% in determining its depreciation charges.

Assume that the company uses IFRS.

a) Prepare the journal entries that the companys accountant would prepare in 2020, assuming the errors are discovered while the 2020 books are still open. Ignore income tax effects. (