483576283iquestionld-12flushed-trueaidd-4821645back-t ACC-201-X3003 Financial Accounting 18EW3 Homework: 5-1 MyAccountingLab Homework: Chapters 11 and 12 Score: 10.42 of 33 pts CP11-35 Continuing Problem (similar to) 1012(1 complete) | Dunst Consulting performs systems consulting and also sells accounting software Dunst Consulting believes the company willRequirements need to borrow $1,100,000 in order to expand operations Dunst consults the bank and secures a 3%, four-year note on March 1. 1. Record the $1, 2017 Dunst must pay the bank principal in four equal installments plus interest annually on March 1 2. Record the entry to accrue interest due on the note at December 31, 20 3. Record the entry Dunst would make to record the paymert to the bark o Received cash in exchange for a 4-year 3% note debits first, then credits Select the explanation on the last line of the jpoumal entry table Requirement 2. Record the entry to accrue interest due on the note at December 31, 2017 (Record Accounts and Explanationn Debit Crealt Date 27,500 2017 Interest Expense 27,500 Dec 31 Interest Payable Record debits frst then credts, Select th Accrued interest expense at year end Requirement 3. Record the entry Dunst would make to record the payment to the bank on March 1, 2018 (Prepare a single compound entry for ths trasaction Credit Debit Accounts and Explanation Date