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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.

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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 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Compute the accrued interest payable on December 31. (Use 360 days a year. Do not round your intermediate calculations.) Principal * Rate(%) * Time = Interest Total through matunity Year end interest accrual Interest recognized February 5 BA Re Req 2 and 3 > Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. (Use 360 days a year. Do not round your intermediate calculations.) View transaction list Journal entry worksheet

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