6 1.87 points eBook 101 Hint Print References Keesha Company borrows $250,000 cash on December 1 of the current year by signing a 180-day, 10%, $250,000 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 Principal Rate (%) Time Total interest Req 4 What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a year. Do not round intermediate calculations and round final answers to the nearest whole dollar.) Total through Interest Expense maturity Current Year
Keesha Company borrows $250,000 cash on December 1 of the current year by signing a 180 -day, 10%,$250,000 note. 1. On what date does this note mature? 2. 8 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 (b) 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. What is the amount of interest expense in the current year and the foliowing year from this note? (Use 360 days a year Do not round intermediate calculations and round final answers to the nearest whole dollar) Keesha Company borrows $250,000 cash on December 1 of the current year by sighing a 180day,10%,$250,000 note 1. On what date does this note mature? 2. \& 3. What is the amount of interest expense in the current yoar and the following year from this note? 4. Prepare jourral entries to record () issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note of maturity. Complete this question by entering your answers in the tabs below. 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. (use 360 days a vear. Do not round intermediate calculations.) Journal entry worksheet tostei inter dekis before cretits. Keesha Company borrows $250,000 cash on December 1 of the current year by signing a 180 -day, 10%,$250,000 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. Prepare fournal entries to record (o) issuance of the note, (b) accrual of interest on December 31 , and (c) paryment of the note at maturity. (Use 360 days a year. Do not round intermediate calculationsi) Journal entry worksheet Record the interest accrued on the note as of December 31, current year: Note- Enter debits before creots. Keesha Company borrows $250,000 cash on December 1 of the current year by signing a 180 -day, 10%,$250,000 note. 1. On what date does this note mature? 2. \& 3. What is the amount of interest expense in the current yoar 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 ( d payment of the note at maturity: Complete this question by entering your answers in the tabs below. 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, (Use 360 days a year. Do not round intermediate calculations.) Journal entry worksheet Record payment of the note at maturity, assuming no reversing entries were made on January 1. Notel Enthr detits berore credits
