Part 2: Short Answer Questions Suggested Time: 35 minutes (Total points: 34 points) Note: You must show all work to receive credit. Question 1 (4 points) On April 1, Holton Company borrows $100.000 from West Bank by signing a 6-month, 6%, interest-bearing note. Prepare the necessary entries below associated with the note payable on the books of Holton Company. ouro Part 1 (2 points): Prepare the entry on April 1 when the note was issued. o obbraco d b te en 12de om o bor Part 2 (2points): Prepare any adjusting entries necessary on June 30 in order to prepare the semiannual financial statements. Assume no other interest accrual entries have been made. 5