1 question

On November 7 . Mura Company borrows $240,000 cash by signing a 90 -day, 11%,$240,000 note payable. 1. Compute the accrued interest payable on December 31. 2. \&. Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5 Complete this question by entering your answers in the tabs below. Compute the accrued interest payable on December 31. Note: Use 360 days a year. Do not round your intermediate calculations. 1. Compute the accrued interest payable on December 31 2. \& 3. Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5 . Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. Note: Use 360 days a year. Do not round your intermediate calculations. Journal entry worksheet Note: Enter debits before credits