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Exercise 95 (Algo) Interest-bearing notes payable with year-end adjustments LO P1 Keesha Company borrows $110,000 cash on November 1 of the current year by signing a 120-day, 7%,$110,000 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 enties 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. What is the amount of interest expense in the current year and the following year from this note? Note: Ose 360 days a year. Do not round intermediate calculations and round final answers to the nearest whole dollar. Exercise 9-5 (Algo) Interest-bearing notes payable with year-end adjustments LOP1 Keesha Company borrows $110,000 cash on November 1 of the current year by signing a 120-day, 7%,$110,000 note 1. On what date does this note mature? 2. \& 3. What is the amount of interest expense in the curient year and the following yeat 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 tobs below. Prepare Journal entries to rocord (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note maturity. Note: Use 369 days a year: Do not round intermediate calculations Journal entry worksheet Shecord the issuance of the note on November 1 . Note: Enter debits tefore credits xercise 9.5 (Algo) Interest-bearing notes payable with year-end adjustments LOP1 eesha Company bottows 5410,090 - cash on Novemibel fof the cutent year by signing a 120.day, 78.540,000 On what dife ores this note mature? 2. \&. 3. What is the amount ofinterest expenve in the curtent yeu and the following yeor from inis note? hote almoturity Complote this question by entering your answers in the tabs below. Qn what date does tha note rituro? - Nore: Atsure that Tebeuary hot 20 omil