Keesha Company borrows $$120,000$ cash on November $1$ of the current year by signing a $90-$day, $10\%,$$$120,000$ note.

On what date does this note mature?

& $3.$ What is the amount of interest expense in the current year and the following year from this note?

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.

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Req $1$

On what date does this note mature?

Note: Assume that February has $28$ days.

On what date does this note mature?

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Req $2$ and $3$

What is the amount of interest expense in the current year and the following year from this note?

Note: Use $360$ days a year. Do not round intermediate calculations and round final answers to the nearest whole dollar.

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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.

Note: Use $360$ days a year. Do not round intermediate calculations.