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Please assist with all 3. Thank you! On November 7, Mura Company borrows $250,000 cash by signing a 90-day, 8%, $250,000 note payable. 1. Compute
Please assist with all 3. Thank you!
On November 7, Mura Company borrows $250,000 cash by signing a 90-day, 8%, $250,000 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. Regl Reg 2 and 3 Compute the accrued interest payable on December 31. (Use 360 days a year. Do not round your intermediate calculations.) Principal X Rate (5) x Time Interest Total through maturity Year end interest accrual Interest recognized February 5 % % Reg1 Reg 2 and 3 > Req 1 Req2 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. intermediate calculations.) View transaction list Journal entry worksheet Record the accrued interest expense. Note: Enter dcbits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general journalStep by Step Solution
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