A. The appraised value or the land is $300 and building that will be wied in forming operations for $600,000 underlined blank is worth I point (5 points wotal). Required: Prepare the journat entry to record the parchase. Each underlined blank is worth l. point iS, peints botall 6) On September 1, Year 1. Holloway Company borrowed $30,000 by issuing a note payable. The note had an 8% interest rate and a one-year term. Required: Complete the journal entries for Holloway Company for the following events. Each underlined blank is worth 1 point. (10 points total) I. Issuand II. Acr III. AC IV. F