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Check my work Keesha Co. borrows $255,000 cash on November 1, 2018, by signing a 180-day, 9% note with a face value of $255,000. points
Check my work Keesha Co. borrows $255,000 cash on November 1, 2018, by signing a 180-day, 9% note with a face value of $255,000. points 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in 2018 and 2019 from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest at the end of 2018, and (c) payment of the note at maturity. (Assume no reversing entries are made.) eBook Complete this question by entering your answers in the tabs below. Hint Req 1 Req 2 and 3 Req 4 On what date does this note mature? (Assume that February has 28 days.) Print On what date does this note mature? References Reqi Req 2 and 3 > Reg 1 Req 2 and 3 Reg 4 What is the amount of interest expense in 2018 and 2019 from this note? (Use 360 days a year. Do not ro calculations. Round final answers to the nearest whole dollar.) Total through maturity Interest Interest Expense 2018 Expense 2019 Principal Rate (%) Time Total interest Req1 Req 4 > Prepare journal entries to record (a) issuance of the note, (b) accrual of interest at the end of 2018, maturity. (Assume no reversing entries are made.) (Use 360 days a year. Do not round intermediate View transaction list 1 Record the issuance of the note on November 1. 2 Record the interest accrued on the note as of December 31, 2018 3 Record payment of the note at maturity, assuming no reversing entries were made on January 1. redit
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