A. March 1, paid interest due on note, $2,600 n. December 31, interest accrued on note payable, $5,250 Prepare journal entries to record the above transactions. If an amount box does not require an entry, leave it blank Mac 1 Interest Payable 2.600 2600 Dec. 31 Inferent Expe 5250 Interest Payable 5258 Check My A. Be sure to maintain the balance of the accounting equation B. Recall the definition of an accrual, pay in advance or pay later? Create a T-account for Interest Payable, post any entries that affect the account, and tally the ending balance for the account (assume Interest Payable beginning balance of $2.60) Interest Payable beg Bal 2,600 5,250 Check My Work Balance Previous Next Save and Exit Submit Assignment for Grading