QS 9-4 Interest-bearing note transactions LO P1 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Real Reg 2 and 3 Comput Reg 1 crued interest payable on December 31. (Use 360 days a year. Do not round your intermediate calculations.) Principal x Rate (%) Total through maturity Year end interest accrual Interest recognized February 5 $ 280,000 $ 280,000 $ 280,000 10 % 10% x Time Interest 90/360 $ 7,000 54/360 $ 4,200 36/360 s 2,800 10 % & Reg Req 2 and 3 > QS 9-4 Interest-bearing note transactions LO P1 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. Answer is not complete. 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.) No Date General Journal Credit Debit 4.200 1 Dec 31 Interest expense Interest payable oo 4,200 2 Feb 05 280,000 Notes payable Interest payable Interest expense Cash OOOO 4,200 2,800 287,000