On November $7,$ Mura Company borrows $$160,000$ cash by signing a $90-$day, $8\%,$ $$160,000$ note payable.

$1.$ Compute the accrued interest payable on December $31.$

$2.$ & $3.$ Prepare the journal entries to record the accrued interest expense at December $31$ and payment of the note at maturity on February $5.$