On November $16,2022,$ Freddie Finder's Inc. issues a short term note payable in exchange for $$12,000$ cash. The note is payable in $120$ days and bears a $3\%$ annual interest rate.

On what date must the note be repaid? $($write out the full date, for example December $31,2027)$

What is the total amount of interest to be paid at maturity $($round to the nearest whole dollar$)$

What is the amount of interest expense incurred as of December $31,2022?$

Prepare the journal entry to record the issuance of the short term note payable.

DR:

CR:

Prepare the Adjusting Journal Entry to record interest expense on December $31,2022.$

DR:

CR:

Prepare the journal entry to record the retirement $($payoff$)$ of the note at maturity.

DR:

DR: Interest Payable

DR: Interest Expense

CR: