Part B (9 Marks) Westpac bank issued 6,000,000 convertible notes with a face value of each note at $1.00 for a five-year term on 1 July 2020. The coupon interest rate is 8% per annum while the market interest rate for similar instruments is recorded at 10%. The interest is paid at the end of each financial year. The convertible notes may be converted to ordinary shares in Westpac bank at any time in the next 5 years. Required: a) Calculate the equity component of this convertible notes. b) Journalise the issue of the securities on 1 July 2020. c) Journalise the interest payment on 30th June 2021. Note: Show all the working for this question. 6