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On November 7, 2017, Mura Company borrows $350,000 cash by signing a 90-day, 12% note payable with a face value of $350,000. (Use 360 days

On November 7, 2017, Mura Company borrows $350,000 cash by signing a 90-day, 12% note payable with a face value of $350,000. (Use 360 days a year. Do not round your intermediate calculations.) 1. Compute the accrued interest payable on December 31, 2017.

Principal x Rate (%) x Time = Interest

Total through maturity %

Year end interest accrual %

Interest recognized February 5 %

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