Keesha Company borrows $135,000 cash on December 1 of the current year by signing a 180 -day, 12%,$135,000 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 maturity. Complete this question by entering your answers in the tabs below. On what date does this note mature? Note: Assume that February has 28 days. Keesha Company borrows $135,000 cash on December 1 of the current year by signing a 180 -day, 12%,$135,000 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 maturity. Complete this question by entering your answers in the tabs below. 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. Keesha Company borrows $135,000 cash on December 1 of the current year by signing a 180 -day, 12%,$135,000 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. Complete this question by entering your answers in the tabs below. Prepare joumal 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. Journal entry worksheet Note: Enter debits before credits Complete this question by entering your answers in the tabs below. Prepare joumal entries to record (a) issuance of the note, ( b) acorual of interest on December 31, and (c) payment of the note at. maturify: Note: lise 360 davs a yean. De not round intermediate calculations. Journal entry worksheet Record the interest accrued an the note as of December 31, current year. Munt. foger detiti before ciedith. Prepare journat entries to record (a) issuance of the note, (b) accrual of interest on December 31 , and (c) payment of the note at. moturity. moturty, 350 davs a vear, De not round intermediate catculations Journal entry worksheet Ahecord payment of the note at inaturity, assuming no reversing entries were made on lanuary 1
