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Need help answering this question: Keesha Co. borrows $200,000 cash on December 1, 2017, by signing a 180-day, 9% note with a face value of
Need help answering this question: Keesha Co. borrows $200,000 cash on December 1, 2017, by signing a 180-day, 9% note with a face value of $200,000.
Exerclse 9-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $200,000 cash on December 1, 2017, by signing a 180-day, 9% note with a face value of S200000. 1. On what date does this note mature? (Assume that February has 28 days) OMay 25. 2018 OMay 26, 2018. O May 27, 2018. OMay 28, 2018 e May 30, 2018. 2. &3. What is the amount of interest expense in 2017 and 2018 from this note? (Use 360 days a year. Round final answers to the nearest whole doller.) Total through Interest maturityExpense 2017 Expense 2018 Interest Principal Rate (%) S 200,000 200,000 200,000 9% 9% 180/360 S 9.000 Total interestStep by Step Solution
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