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14 4 On November 7, Mura Company borrows $190,000 cash by signing a 90-day, 12%, $190,000 note payable. 1. Compute the accrued interest payable on
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4 On November 7, Mura Company borrows $190,000 cash by signing a 90-day, 12%, $190,000 note payable. 1. Compute the accrued interest payable on December 31. 2.& 3. Prepare the journal entry 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. 02.0625 Req: Reg 2 and 3 Compute the accrued interest payable on December 31. (Use 360 days a year. Do not round your intermediate calculations.) Principal x Rate (%) x Time = Interest Total through maturity % Year end interest accrual Interest recognized February 5 % Re Req 2 and 3 > Reg 1 Reg 2 and 3 Prepare the journal entry to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. (Use 360 days a year. Do not round your intermediate calculations.) View transaction list Journal entry worksheet 2 Record the accrued interest expense. Note: Enter debits before credits General Journal Dobit Credit Date Dec 31 View general Journal Record entry Clear entry Step by Step Solution
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