On November $7,2016,$ Mian Company borrows $$160,000$ cash by signing a $90-$day, $8\%$ note payable with a face value of $$160,000.$

$(1)$ Record the entry on November $7$ to borrow the cash.

$(2)$ Compute the accrued interest payable on December $31,2016.$

$(3)$ Prepare the journal entry to record the accrued interest expense at December $31,2016.$

$(4)$ Prepare the journal entry to record payment of the note at maturity.