On November 7, Mura Company borrows $280,000 cash by signing a 90-day, 10%, $280,000 note payable. 1. Compute the accrued interest payable on December 31. 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31 and payment of the note at maturity on February 5.

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Compute the accrued interest payable on December 31. (Use 360 days a year. Do not round your intermediate calculations.)

	Principal	x Rate (%)		x Time	= Interest
Total through maturity			%
Year end interest accrual			%
Interest recognized February 5			%

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Prepare the journal entry 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.)

Journal entry worksheet

Transaction Index :

• Record the accrued interest expense.
• Record the payment of note at maturity on February 5.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Dec 31

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Prepare the journal entry 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.)

• Record the accrued interest expense.
• Record the payment of note at maturity on February 5.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Feb 05

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• Required 1
• Required 2

Prepare the stockholders' equity section after the October 11 treasury stock purchase.

Revised Equity Section of Balance Sheet After October 11
Total contributed capital	0
Total	0
Total stockholders equity	$0