A. March 1, paid interest due on note, $2,600 n. December 31, interest accrued on note payable, $5,250 Prepare journal entries to record the above transactions. If an amount box does not require an entry leavet blank Mac 1 Interest Payable 2.600✔ Dec. 31 Interest Extase ✓ Feedback 5250 Check My Work 2.600✔ A. Be sure to maintain the balance of the accounting equation B. Recall the definition of an accrual, pay in advance or pay later? Balance 5258 ✔ Create a T-account for Interest Payable, post any entries that affect the account, and tally the ending balance for the account