Keesha Company borrows $235,000 cash on November 1 of the current year by signing a 120-day, 10%, $235,000 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 08 Complete this question by entering your answers in the tabs below. R1 Req 11 Req 2 and 3 Req 41 On what date does this note mature? (Assume that February has 28 days.) On what date does this note mature? March Keesha Company borrows $235,000 cash on November 1 of the current year by signing a 120-day, 10%, $235,000 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. Req 1 Req 2 and 3 Req 4 What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a year. Do not round intermediate calculations and round final answers to the nearest whole dollar.) Principal Rate (%) Time Total interest Total through maturity Interest Expense Current Year Interest Expense Following Year 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. (Use 360 days a year. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the note on November 1. Note: Enter debits before credits. Transaction (a) General Journal Debit. Credit > 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. (Use 360 days a year. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 3 Record the interest accrued on the note as of December 31, current year. Note: Enter debits before credits. Transaction (b) General Journal Debit Credit 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. (Use 360 days a year. Do not round intermediate calculations.) View transaction list Journal entry worksheet 1 2 3 Record payment of the note at maturity, assuming no reversing entries were made on January 1. Note: Enter debits before credits. Transaction (c) General Journal Debit Credit Record entry Clear entry View general journal