QS 9-5 (Algo) Interest-bearing note transactions LO P1 On November 7. Mura Company borrows $250,000 cash by signing a 90-day, 5% $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. Rea I Reg 2 and 3 Compute the accrued interest payable on December 31. (Use 360 days a year. Do not round your intermediate calculations Principal $ 250,000 Total through maturity Year end Interest accrual Rate (%) x Time % 90/360 51% 54/360 % 36/360 = Interest S 3,125 S 1.875 S 1.250 S 250,000 250,000 Interest recognized February 5 S Roo: Reg 2 and 3 > 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 View journal entry worksheet Na Date General Journal Debit Credit: 1 Dec 31 Interest expense Interest payable 1,875 1,875 2 Feb 05 250.000 Noles payable Interest expense Accounts payable ( Req 1 Rosanu