On November 7, Mura Company borrows $160,000 cash by signing a 90-day, 8%, $160,000 note payable....

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On November 7, Mura Company borrows $160,000 cash by signing a 90-day, 8%, $160,000 note payable. 1. Compute the accrued interest payable on December 31. 2. & 3. Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. Note: Use 360 days a year. Do not round your intermediate calculations. No Date General Journal 1 December 31 Interest expense Interest payable 2 February 05 Notes payable Interest expense Interest payable Cash Debit Credit 1,920 1,920 160,000 1,920 1,280 163,200 < Req 1 Req 2 and 3 > On November 7, Mura Company borrows $160,000 cash by signing a 90-day, 8%, $160,000 note payable. 1. Compute the accrued interest payable on December 31. 2. & 3. Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Prepare the journal entries to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. Note: Use 360 days a year. Do not round your intermediate calculations. No Date General Journal 1 December 31 Interest expense Interest payable 2 February 05 Notes payable Interest expense Interest payable Cash Debit Credit 1,920 1,920 160,000 1,920 1,280 163,200 < Req 1 Req 2 and 3 >