The Convertible Bond was issued on January 2, 2020, with a face value of $5,000,000, a term of 10 years, and it pays interest each June 30 and December 31 at an annual rate of 4%. The company received $4,600,000 cash; the cash was later used to acquire land and buildings on July 1, 2020, valued at $1,400,000 and $3,200,000, respectively. The remaining $400,000 of convertible bonds was also issued on January 2, 2020, in exchange for equipment valued at $400,000. All other equipment additions recorded on the balance sheet were paid for with cash. There were no disposals of equipment during the year.

The company turned down an option to issue debt without the conversion feature at a rate of 6%.

Each convertible bond debenture can be converted into common shares on the basis of 20 common shares for each $1,000 of the bonds face value, until the date of maturity (December 31, 2029).

No bonds were converted in 2020

Please show relating calculations and journal entries under IFRS.