Homework: 5-1 MyAccountingLab Homework: Chapters 11 and 12 Save Score: 0 of 33 pts 1 012 (0 complete) Score: 0%, 0 of 65 pts CP11-35 Continuing Problem (similar to) Question Help Dean Consulting performs systems consulting and also sells accounting software. Requirements Dean Consulting believes the company will need to borrow 1,250,000 in order to . Record the $1,250,000 note payable on March 1,2017. expand operations. Dean consults the bank and secures a 12%, four-year note on March 1, 2017. Dean must pay the bank principal in four equal installments plus interest annually on March 1. 2. 3. Record the entry to accrue interest due on the note at December 31,2017. Record the entry Dean would make to record the payment to the bank on March 1, 2018 Requirement 1. Record the $1,250,000 note payable on March 1, 2017. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Debit Date 2017 Mar. 1 Credit