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Keesha Co. borrows $160,000 cash on December 1, 2016, by signing a 120-day, 8% note with a face value of $160,000. 1. On what date
Keesha Co. borrows $160,000 cash on December 1, 2016, by signing a 120-day, 8% note with a face value of $160,000. 1. On what date does this note mature? (Assume a 365 day year.) March 26, 2017 O March 27, 2017 O March 28, 2017 March 30, 2017 March 31, 2017 2. & 3. What is the amount of interest expense in 2016 and 2017 from this note? (Use 360 days a year. Do not round intermediate calculations.) Total Interest through maturity Interest Expense 2016 Expense 201 Principal Rate (%) Time Total interest
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