zmir A.S. Issued convertible bonds at their face value of 107,000 lira on December 31, 2017. The bonds have a 10-year life with Interest of 11 percent payable annually. At the date of Issue, the prevalling interest rate for simIlar debt without a conversion optlon was 13 percent Assume that a foreign company using IFRS Is owned by a company using U.S. GAAP. Thus, IFRS balances must be converted too U.S. GAAP to prepare consolidated financlal statements. Ignore Income taxes. Required: a. Prepare journal entres for this compound financial instrument for the year ending December 31, 2017, under () IFRS and (2) U.S. GAAP b. Prepare the entry(les) that the U.S. parent would make on the December 31, 2017, conversion worksheet to convert IFRS balances to U.S. GAAP. Complete this question by entering your answers in the tabs below. Required A Required B Prepare journal entries for this compound financial instrument for the year ending December 31, 2017, under (1) IFRSS and (2) U.S. GAAP. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round PV factor. Round the final answers to nearest whole dollar) Vlew transaction lst Journal entry worksheet 2 Record the entry for the issue of bonds as per IFRS Note: Enter debits before credits General Journal Date Debit Credit 12/31/2017 Journal entry workshee 1 2 Record the conversion entry needed for 12/31/17. Note: Enter debits before credits. Date General Journal Debit Credit 12/31/2017