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Saved Keesha Co borrows $225.000 cash on December 1 of the current year by signing a 180-day. 1%. $225,000 nole 1. On what date does
Saved Keesha Co borrows $225.000 cash on December 1 of the current year by signing a 180-day. 1%. $225,000 nole 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note. (b) accrual of interest on December 31, and (c) payment of the note at maturity Complete this question by entering your answers in the tabs below.) Req 1 Req 2 and 3 Req 4 What is the amount of interest expense in the current year and the following year rom thisinote? OUse360 days a year Round final answers to the nearest whole dallar.) Interest Total Interest through maturity Expense Current Year Expense Following Year S 225 000 11% Principal 225,000 S 11% 225 000 Rate (%) 11%) Time 180/360 30/360 150/360 Total interest Req 1 Req 4 1 of 1
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