On 30 June 2018 Brown Ltd issued 50 000 convertible notes with a face value of $50 milion for a term of five years. Each note was convertible at the option of the holder into one ordinary share on or before maturity. The coupon interest rate is 7% per annum while the market interest rate for comparable non-convertible debt is 8% per annum REQUIRED (1) Prepare the accounting entries to record the issue of convertible notes on 30 June 2018, and the interest payment on 30 June 2019. Show your calculations. (2) Prepare the accounting entries on 30 June 2020. Suppose the holders of the notes elect to convert the notes to ordinary shares on 30 June 2020 (8 marks) (6 marks)