QS $9-5($Algo$)$ Interest$-$bearing note transactions LO P$1$

On November $7,$ Mura Company borrows $$150,000$ cash by signing a $90-$day, $10\%,$$$150,000$ note payable.

Compute the accrued interest payable on December $31.$

& $3.$ Prepare the journal entries 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 $31.$

Note: Use $360$ days a year. Do not round your intermediate calculations.