Keesha Company borrows $265,000 cash on November 1 of the current year by signing a 120-day, 11%, $265,000 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 Principal Rate (%) Time Total interest 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. Req 4 Total through maturity Interest Expense Current Year

Keesha Company borrows $265,000 cash on November 1 of the current year by signing a 120 -day, 11%,$265,000 note. 1. On what date does this note mature? 2.8 3. What is the amount of interest expense in the cufrent year and the following year from this note? 4. Prepare journal entries to record ( () 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 foliowing year from this note? Note: Use 360 dars a vear, Do not round intermediate calculations and round final answers to the nearest whole dollar. Keetha Company bortows $265,000 cash on November 1 of the current yoar by signing a 120 -day, 111,$265,000 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 yoar from this note? 4. Prepare journal entries to tecord () issuance of the note, (b) accrual of interest on December 3t, and (c) payment of the note at maturity Complete this question by entering your answers in the tabs below. Prepare joumal entries to record (0) issuance of the note, (b) sccrual 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