On November 7, Mura Company borrows $350,000 cash by signing a 90-day, 12%, $350,000 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.

QS 9-4 Interest-bearing note transactions LO P1 On November 7, Mura Company borrows $350,000 cash by signing a 90-day, 12%, $350,000 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. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Compute the accrued interest payable on December 31. (Use 360 days a year. Do not round your intermediate calculations.) Principal x Time = Interest x Rate (%) % Total through maturity Year end interest accrual % Interest recognized February 5 % ( Req 1 Req 2 and 3 > Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 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.) View transaction list Journal entry worksheet Record the accrued interest expense. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Req 1 Reg 2 and 3 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.) View transaction list Journal entry worksheet Record the payment of note at maturity on February 5. Note: Enter debits before credits. Date General Journal Debit Credit Feb 05 Record entry Clear entry View general journal