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Exercise 9-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $100,000 cash on November 1 of the current year by signing a 180-day, 12%, $100,000 note. 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 On what date does this note mature? (Assume that February has 28 days) On what date does this note mature? 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 from this note? (Use 360 d Round final answers to the nearest whole dollar.) Total Interest Interest through Expense Expense maturity Current Year Following Year Principal Rate (%) Time Total interestView transaction list Journal entry worksheet 2 3 Record the issuance of the note on November 1. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Record entry Clear entry View general journalThe following monthly data are taken from Ramirez Company atJuiy 31: Sales salaries, $500,000; Ofce salaries. $100,000; Federal income taxes withheld. $150,000: State income taxes withheld. $33,500; Social security taxes withheld, $31200: Medicare taxes withheld, $8.700; Medical insurance premiums, $12,000; Life insurance premiums, $9.000; Union dues deducted, $6,000; and Salaries subject to unemployment taxes, $60,000. The employee pays 40% of medical and life insurance premiums. Assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. 1&2. Using the above information, complete the below table and prepare the journal entries to record accrued payroll and cash payment of the net payroll for July. 3. Using the above information, complete the below table. 4. Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July- assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. Complete this question by entaerlng your answers In the tabs below. Req 1 and 2 Req 3 Rec] 4 Using the above Information, complete the below table and prepare the joumal entries to record accrued payroll and cash payment of the net payroll for July. Employee Medical Insurance Payable Employee Life Insurance Payable Record journal entry for aocmed payroll, including employee deductions, for July. Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 4 Using the above information, complete the below table. Tax Amounts Subject to Tax Tax Rate Tax Amount State Unemployment Taxes Payable Federal Unemployment Taxes Payable Req 1 and 2 Req 3 Req 4 Record the accrued employer payroll taxes and all other employer-paid expenses and the cash payment of all liabilities for July-assume that FICA taxes are identical to those on employees and that SUTA taxes are 5.4% and FUTA taxes are 0.6%. View transaction list Journal entry worksheet 2 3 Record all employer's payroll expenses and liabilities for the month of July. Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry Clear entry View general journal