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Proctoring Enabled: 2140 EXAM 3 Keesha Company borrows $185,000 cash on November 1 of the current year by signing a 120-day, 9%, $185,000 note. 2 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 () payment of the note at maturity. i Complete this question by entering your answers in the tabs below. / Reqg 1 Req 2 and 3 Req 4 On what date does this note mature? Note: Assume that February has 28 days. /On what date does this note mature? r l Req2and3 > 10 .:E': Next > Proctoring Enabled: 2140 EXAM 3 2 Keesha Company borrows $185,000 cash on November 1 of the current year by signing a 120-day, 9%, $185,000 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 () issuance of the note, (b) accrual of interest on December 31, and () payment of the note at T maturity. Complete this question by entering your answers in the tabs below. 801:55:15 Reg 1 Reg 2 and 3 ROG Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 3: and (c) payment of the note at maturity. Note: Use 360 days a year. Do not round intermediate calculations View transaction list Journal entry worksheet esc C 110 @ 2 3 4 5 W e[ ] Req 1 Reg2and3 || Req 4 { Prepare journal entries to record () issuance of the note, (b accrual of interest on December maturity. Note: Use 360 days a year. Do not round intermediate calculations. R L e LR T Journal entry worksheet s and () payment of the note at Record the interest accrued on the note as of December 31, current year. Note: Enter debits before credits. Clear entry View general journal maturity. Prepare journal entries to record (a) issuance of the wate, (b) accrual of interest on December 31, and (c) payment of the note at Note: Use 360 days a year. Do not round intermediate calculations. 8 01:53:52 View transaction list Journal entry worksheet 1 2 Record payment of the note at maturity, assuming no reversing entries were made on January 1. Note: Enter debits before credits. Transaction General Journal Debit Credit (c) Record entry Clear entry View general journal