Keesha Co. borrows $165,000 cash on December 1 of the current year by signing a 90-day,...

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Keesha Co. borrows $165,000 cash on December 1 of the current year by signing a 90-day, 10%, $165,000 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 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? March 01. What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a y Round final answers to the nearest whole dollar.) Principal Rate (%) Time Total interest Total through maturity $ 165,000 10% 90/360 Interest Expense Current Year $ 165,000 10% 30/360 $ 137,500 X Interest Expense Following Year $ 165,000 10% 60/360 < Req 1 Req 4 > [Seq 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. (Use 360 days a year. Do not round intermediate calculations.) No 1 Req 1 2 3 Req 2 and 3 Transaction. (b) (C) Cash Notes payable Interest expense Interest payable Notes payable Interest payable Interest expense Cash General Journal < Req 2 and 3 Reg 4 Debit 165,000 165,000 Credit 165,000 Keesha Co. borrows $165,000 cash on December 1 of the current year by signing a 90-day, 10%, $165,000 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Req 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? March 01. What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a y Round final answers to the nearest whole dollar.) Principal Rate (%) Time Total interest Total through maturity $ 165,000 10% 90/360 Interest Expense Current Year $ 165,000 10% 30/360 $ 137,500 X Interest Expense Following Year $ 165,000 10% 60/360 < Req 1 Req 4 > [Seq 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. (Use 360 days a year. Do not round intermediate calculations.) No 1 Req 1 2 3 Req 2 and 3 Transaction. (b) (C) Cash Notes payable Interest expense Interest payable Notes payable Interest payable Interest expense Cash General Journal < Req 2 and 3 Reg 4 Debit 165,000 165,000 Credit 165,000