you CAN USE the standars from india.

Good Juice Ltd (Good Juice), is a company that produces cold-pressed juices and is based in Cape Town, Western Cape. It has a 30 September year end and has experienced growth over the past two years despite lockdown restrictions. The following transactions took place in the current financial year. Debentures On 1 October 2020, Good Juice issued 2 200 convertible debentures at their fair value of R1 000 each. The debentures have a face value of R1 000 and bear a fixed coupon interest rate of 9% per annum, compounded annually. The coupon interest is payable annually in arrears on 30 September. The debentures are convertible at the option of Good Juice on 30 September 2025, at a ratio of one ordinary share for every debenture held. Any debentures which are not converted on 30 September 2025 will be redeemed at their face value on the same date. A market related interest rate for similar debentures without a conversion option is 11,5% per annum compounded annually. The financial accountant of Good Juice was unsure as to how to account for these debentures, and thus the only journal entry processed to account for the debentures was as follows: Dr Cr 1 October 2020 R R Bank (SFP) 2 200 000 Debenture liability (SFP) 2 200 000 Proceeds received from the issue of debentures REQUIRED (a) Discuss, in terms of IAS 32, Financial Instruments: Presentation, the correct classification and initial measurement of the convertible debentures issued by Good Juice on 1 October 2020. Your discussion must include all relevant calculations. Communication skills - logical argument