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On November 30, 2019, Marrero, Inc. borrows $200,000 from Metairie Bank by signing a 90-day 6% Note Payable for $200,000. a) Calculate the total interest

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On November 30, 2019, Marrero, Inc. borrows $200,000 from Metairie Bank by signing a 90-day 6% Note Payable for $200,000. a) Calculate the total interest Marrero will pay on this loan (use a 360-day year). b) Prepare the adjusting Journal Entry to record Marrero's Interest Expense on December 31, 2019 (use 30 days and a 360-day year). c) Prepare Marrero's Journal Entry when it pays back the loan on March 1, 2020 (for 2020 Interest Expense use 60 days and a 360-day year)

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