$1$

On November $7,$ Mura Company borrows $$270,000$ cash by signing a $90-$day, $10\%,$$$270,000$ note payable.

Compute the accrued interest payable on December $31.$

& $3.$ Prepare the journal entries to record the accrued interest expense at December $31$ and payment of the note at maturity on February $5.$

$10$

points

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$01$:$29$:$37$

Req $1$

Req $2$ and $3$

Compute the accrued interest payable on December $31.$

Note: Use $360$ days a year. Do not round your intermediate calculations.

$\backslash$table$[[,$Principal,x Rate $(\%),$x Time,$=$ Interest,$],[$Total through maturity,,,$\%,,],[$Year end interest accrual,,,$\%,,],[$Interest recognized February $5,,,\%,,]]$

Req $1$