On 1 November 2022 Sandy Ltd issued 10000 convertible notes with the following features: Face value $1000 Term Four sue price interest Conversion option Market interest rate years At face value Coupon rate of 10 per cent payable annually in arrears Each note is convertible into 100 ordinary shares 12 per cent for similar debt with no conversion option (a) Prepare the journal entry to record the issue of the convertible notes (b) Describe the effect, if any of the issue of the convertible notes on each of the three components of the statement of financial position, that is, assets, liabilities and equity LO 14.7, 14.14