2 Exercise 11-4 Interest-bearing notes payable with year-end adjustments LO P1 33.33 points Keesha Co. borrows $200,000 cash on November 1 of the current year by signing a 90-day, 9%, $200,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. eBook Ask Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Reg 4 On what date does this note mature? On what date does this note mature? Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and 3 Req 4 What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a year. Do not round intermediate calculations.) Total through maturity Interest Expense Cur YE Interest Expense Following Year Principal Rate (%) Time Total interest View transaction list X: 1 Record the issuance of the note on November 1. 2 Record the interest accrued on the note as of December 31, current year. Record payment of the note at maturity, assuming no reversing entries were made on January 1. Credit Note : = journal entry has been entered Journal entry worksheet 1 2 3 > Record the issuance of the note on November 1. Note: Enter debits before credits. General Journal Debit Credit Transaction (a) Record entry Clear entry View general Journal Journal entry worksheet Record the interest accrued on the note as of December 31, current year. Note: Enter debits before credits. General Journal Debit Credit Transaction (b) Record entry Clear entry View general Journal Journal entry worksheet Record payment of the note at maturity, assuming no reversing entries were made on January 1. Note: Enter debits before credits. General Journal Debit Credit Transaction (c) Record entry Clear entry View general Journal