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Keesha Company borrows $215,000 cash on December 1 of the current year by signing a 120 day, 10%. $215,000 note. 1. On what date does
Keesha Company borrows $215,000 cash on December 1 of the current year by signing a 120 day, 10%. $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) accruat of interest on December 31, and payment of the note at maturity Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and Reg 4 on what date does this note mature? (Assume that February has 28 days) On what date does this note mature? Reg 2 and 3> Keesha Company borrows $215,000 cash on December 1 of the current year by signing a 120-day, 10%, $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 to payment of the note at maturity Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Reg 4 Prepare journal entries to record (a) issuance of the note. (b) accrual of Interest on December 21, and (c) payment of the note at maturity. (Use 360 days a year. Do not round Intermediate calculations.) View transaction list Journal entry worksheet
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