Dean Consulting performs systems consulting and also sells account software. Dean Consulting Believes the company will need to borrow $1,100,000 in order to expand operations. Dean consults the bank and secures a 12% ten-year note on March 1, 2017. Dean must pay the bank principal in ten equal installments plus interest annually on March 1

1. Record the $1,100,000 note payeable on March 1, 2017

2. Record the entry to accrue interest due on the note at December 31, 2017

3. Record the entry Dean would make to record the payment to the bank on March 1, 2018