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Trista and Co. borrowed $340,000 on December 1, 2020, for 90 days at 8% interest by signing a note to buy jewellery inventory. 1. On
Trista and Co. borrowed $340,000 on December 1, 2020, for 90 days at 8% interest by signing a note to buy jewellery inventory. 1. On what date will this note mature? Maturity date 2. How much interest expense is created by this note in 2020? (Use 365 days a year. Do not round intermediate calculations and round the final answer to 2 decimal places.) Interest expense 3. How much interest expense is created by this note in 2021? (Use 365 days a year. Do not round intermediate calculations and round the final answer to 2 decimal places.) Interest expense 4. Prepare the journal entries on December 1, December 31 (Trista and Co.'s year-end), and the maturity date. (Use 365 days an year. Do not round intermediate calculations and round the final answer to 2 decimal places.) View transaction list 1 Record the signing of a $340,000 note payable for 90 days at 8% interest. rest. 2 Record the accrued interest at year-end. 3 Record the payment of note plus interest. Credit
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