Use the information given below to answer Questions 29 - 30. Wheaton Rubber Co. (WR), uses IFRS, is a supplier of tire rubber and among its customers is Tyre Distributors Corp. WR had successfully re-financed a bank note and the re-financing was considered a major restructure. WR provides you with the details concerning the re- financed loan: - Date of restructure- January 1, 2021 -Market I nterest rate - 4% - Coupon rate of new note - 3% -Interest payable on new note every December 31. -Note payable- new $515,000 (discounted using market rate) -Note payable-new $500,000 (discounted using 4.5% coupon rate on old note) Maturity value of new note $600,000 [29] WR would like to know what the journal entry would be to record the interest payment on December 31, 2021. Select one: a. (dr) interest expense $20,000; (cr) cash $18,000; (cr) note payable $2,000. b. (dr) interest expense $18,000; (cr) cash $18,000. c. (dr)interest expense $15,450; (dr) note payable $2,550; (cr) cash $18,000. d. (dr) interest expense $20,600; (cr) cash $18,000; (cr) note payable $2,600. e. None of the above. [30] Wheaton Rubbers' bank, which uses IFRS, would prepare the following journal entry on December 31, 2021 when it receives the interest payment from WR on the new note: Select one: a. (dr) cash $18,000; (dr) note receivable $4,500; (cr) interest revenue $22,500. b. (dr) cash $18,000; (dr) note receivable $2,600; (cr) interest revenue $20,600. c. (dr) cash $18,000; (dr) note receivable $9,000; (cr) interest revenue $27,000. d. (dr) cash $18,000; (cr) interest revenue $18,000. e. None of the above