QS 11-4 Interest-bearing note transactions LO P1 On November 7, Mura Company borrows $400,000 cash by signing a 90-day, 12%, $400,000 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 Rate (%) x Time Interest Total through maturity Year end interest accrual Interest recognized February 5 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 1 2 > Record the accrued interest expense. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 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 1 2 Record the payment of note at maturity on February 5. Note: Enter debits before credits. Debit General Journal Date Credit Feb 05