Keesha Company borrows $$230,000$ cash on December $1$ of the current year by signing a $120-$day, $10\%,$ $$230,000$ 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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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.

Journal entry worksheet

Record the issuance of the note on December $1.$

Note: Enter debits before credits.