On November 7, 2018, Mura Company borrows $140,000 cash by signing a 90-day, 10% note payable with a face value of $140,000. 1. Compute the accrued interest payable on December 31, 2018. 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31, 2018 and payment of the note at maturity.

On November 7, 2018, Mura Company borrows $140,000 cash by signing a 90-day, 10% note payable with a face value of $140,000. 1. Compute the accrued interest payable on December 31, 2018. 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31, 2018 and payment of the note at maturity. Complete this question by entering your answers in the tabs below Reg 1 Req 2 and 3 Compute the accrued interest payable on December 31, 2018. (Use 360 days a year. Do not round your intermediate calculations.) Principal x Rate (%) x Time Total Interest Expense Total through maturity Year end interest accrual Interest recognized on February 5 % % % Req1 Req 2 and 3 > Journal entry worksheet 2 > Record the accrued interest expense. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31, 2018 Record entry Clear entry View general journal Journal entry worksheet