Keesha Co. borrows $110,000 cash on November 1, 2017, by signing a 180-day, 7% note with a face value of $110,000. 1. On what date does this note mature? (Assume that February has 28 days)

• April 25, 2018.

• a.April 26, 2018.

• b.April 27, 2018.

• c.April 28, 2018.

• d. April 30, 2018.

• 2. & 3. What is the amount of interest expense in 2017 and 2018 from this note? (Use 360 days a year. Round final answers to the nearest whole dollar.)

• 

Total Interest Interest through maturity Expense 2017 Expense 2018 Principal Rate (%) Time Total interest Record the issuance of the $110,000 note. Note: Enter debits before credits. General Journal Credit Transaction Debit (a) Record the interest accrued on the note as of December 31, 2017. Note: Enter debits before credits. Transaction Debit General Journal Credit (b) Record entry Clear entry View general journal 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