Question 1 (13 marks, 19 minutes) On October 1, 2012, Proctor Ltd. borrowed $80,000 from Prudential Bank by signing a 10 month, 6%, interest-bearing note. Interest and principal are due at maturity. Proctor's year end is March 31. Proctor prepares adjusting entries at year end only. Required: Prepare the journal entries listed below associated with the note payable on the books of Proctor Ltd. (a) Prepare the entry on October 1, 2012 when the note was issued. (1 mark) (b) Prepare any adjusting entries necessary on March 31, 2013 in order to prepare the financial statements. (2 marks) (c) Prepare the entry to record payment of the note by Proctor at maturity date. (4 marks) PARTB 0 Using the above information, prepare the required journal entry on November 30, 2012 in the books of Proctor, if the terms of the loan required monthly blended principal and interest payments of $10,800. (round your answer to the nearest dollar) (4 marks) Using the above information, prepare the required journal entry on Oct the books of Proctor, if the terms of the loan required monthly fixed principal payments of $10,000 plus interest. (2 marks)