Keesha Company borrows $200,000 cash on November 1 of the current year by signing a 90 -day, 8%,$200,000 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 a 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 $200,000 cash on November 1 of the current year by signing a 90 -day, 8%,$200,000 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. 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 $200,000 cash on November 1 of the current year by signing a 90 -day, 8%,$200,000 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 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. esha Company borrows $200,000 cash on November 1 of the current year by signing a 9 On what date does this note mature? \& 3. What is the amount of interest expense in the current year and the following year from Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on Decemb aturity. Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31 , a maturity. Note: Use 360 days a year. Do not round intermediate calculations. Journal entry worksheet Record the interest accrued on the note as of December 31, current year. Note: Enter debits before credits. esha Company borrows $200,000 cash on November 1 of the current year by signing a 90 On what date does this note mature? \& 3. What is the amount of interest expense in the current year and the following year from Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on Decemb naturity. Complete this question by entering your answers in the tabs below. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31 , maturity. Note: Use 360 days a year. Do not round intermediate calculations. Journal entry worksheet Record payment of the note at maturity, assuming no reversing entries were made on January 1. Note: Enter debits before credits
