Help Submit Save & Exit my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question Keesha Company borrows $110,000 cash on November 1 of the current year by signing a 120-day, 8%, $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 entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (a payment of the note at maturity. Answer is not complete. Complete this question by entering your answers in the tabs below. Return to ques OTTO 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 days = not round intermediate calculations and round final answers to the nearest whole dollar.) Total Interest through Expense Interest Expense maturity Current Year Following Year Principal Rate (%) 2933% 2933% 2933% Time 120/360 60/360 60/360 Total interest $ 2,933 1,466 1,466 Completion. eted so far. It does not indicate Return to question 1 Cash Notes payable SIS 110,000 110,000 N (b) Interest expense Interest payable 1,466 1,466 3 c (c) Notes payable Interest payable Interest expense 110,000 1,466 OOOO 2,933 X Cash