Windsor Company prepares semi-annual financial statements on 31 December and 30 June of each year Windsor issued 5-year, 14 per cent bonds with a $300,000 face value, for $300,000. The bonds are dated on 31 October 2019, call for semi-annual interest payments on 30 April and 31 October, and mature in 5 years on 31 October Windsor made the required interest and principal payments when due. Windsor Company applies International Financial Reporting Standards (IFRS). Effective Interest Rate (EIR) is the rate that exactly discounts estimated future cash flows through the expected life of the financial asset liability to the gross carrying amount of a financial asset or to the amortised cost of a financial liability Windsor Chief of Accounts commented that the effective interest method is the method that is used in the calculation of the amortized cost of a financial asset liability and in the allocation and recognition of the interest revenue or interest expense in PL over the relevant period. Required 1. Prepare necessary joumal entries to record transactions on the following dates: a 31 October 2019 b. 31 December 2019 30 April 2020 d. 31 October 2024 2. Re-do the journal entry on date of issuance if the bonds were issued at $250,000 instead? Explain journal entries involved in amortizing the discount premium as required by IFRS 92 3. Wher would preferred shares be a better investment choice than bonds? Refer to relevant IFRS when appropriate