Blossom Capital Ltd. issued 400 convertible $1,000 bonds at 102. After issuance, similar bonds were sold at 96. Assume that Blossom Capital Ltd. follows IFRS and recorded the issuance of the bonds and conversion rights accordingly. On a date when the bonds had a carrying value of $388,400, bantry paid $11,000 to the bondholders to induce early conversion. 

Record the conversion using the book value method.

Answer rating: 100% (QA)

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