Keesha Co. borrows $215,000 cash on November 1 of the current year by signing a 150-day, 8%, $215,000 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 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. (Use 360 days a year. Do not round intermediate calculations.) No 1 Transaction (a) General Journal Cash Notes payable Debit Credit 215,000 215,000 Req 1 Req 2 and 3 Req 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. (Use 360 days a year. Do not round intermediate calculations.) 44 No 1 Transaction (a) General Journal Cash Notes payable 2 (b) Interest expense Interest payable 3 (c) Notes payable rest payable Interest expense Cash 01:36:37 Req 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 day not round intermediate calculations and Round final answers to the nearest whole dollar.) Principal Rate (%) Time Total interest Total through maturity $ 215,000 8% 150/360 Interest Expense Current Year Interest Expense Following Year 215,000 $ 215,000 8% 8% 90/360 60/360