On November 1, Mark Company borrows $50,000 from National Bank on a 4-month, $50,000, 6% note. The company prepares its financial statements annually. What entry must Mark Company make on December 31 before financial statements are prepared? * Debit interest payable and credit interest expense of $500 Debit interest expense and credit interest payable of $1,500 Debit interest expense and credit interest payable of $750 None of the above The entry by Mark Company to record payment of the note and accrued interest on The entry by Mark Company to record payment of the note and accrued interest on March 1 is * Debit notes payable and credit cash of $51,000 Debit notes payable $50,000 and interest payable $1,000, and credit cash of $51,000 Debit notes payable $50,000 and interest Expense $1,000, and credit cash of $51,000 O None of the above