Page 1: 1 -> 4 -1 w Page 2 5 6 sa Page 3: 8 73 Question 51 (8 points) On March 1, Holden Corporation borrowed $60,000 from Old York Bank by aigning a 6-month, 59, interest-bearing note. Interest is due at maturity, IN GOOD FORM, prepare the necessary entries below associated with the note payable on the books of Holden Corporation. You must state "No Entry" if an entry is not needed in order to obtain full marks. (a) Prepare the entry on March 1 when the note was issued. (b) Prepare any adjusting entries necessary on June 30 in order to prepare the i semi-annual financial statements. Assume no other interest accrual entries have been made. (e) Prepare the entry to record payment of the note at maturity. 9 10 2> 11 12 => Page 4: 13 113 14 15 15 214 Previous Page Next Page Page 12 of 14