PSB9.3 The following extract is taken from Storage Box Ltd's statement of financial position at 31 December 2013: Current liabilities Interest payable on unsecured notes (for 6 months from 1 July to 31 December Non-current liabilities Unsecured notes payable, 12% due 1 January 2017 $ 360 000 6 000 000 Interest is payable half-yearly on 1 January and 1 July. Assume no interest is accrued on 30 June Required (Round all calculations to the nearest dollar.) (a) Journalise the payment of interest on 1 January 2014 (b) Prepare the entry to pay the interest due on 1 July 2014 (c) Assume on 1 July 2015, after paying interest, that Storage Box Ltd redeems half of the unsecured notes at 103. Record the redemption of the notes. (d) Explain the advantage of debt financing over issuing shares