Keesha Company borrows $$270,000$ cash on December $1$ of the current year by signing a $180-$day, $7\%,$$$270,000$ note.

On what date does this note mature?

& $3.$ What is the amount of interest expense in the current year and the following year from this note?

Prepare journal entrles 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 $3$

On what date does this note mature?

Note: Assume that February has $28$ days.

On what date does this note mature?Keesha Company borrows $$270,000$ cash on December $1$ of the current year by signing a $180-$day, $7\%,$ $$270,000$ 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.