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Graded Homework a Saved Help Save & Exit Submit Check my work Exercise 9-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $135,000 cash on November 1 of the current year by signing a 90-day, 9%, $135,000 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. Complete this question by entering your answers in the tabs below. Req 1 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? Req1 Req 2 and 3 > Check my work Exercise 9-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $135,000 cash on November 1 of the current year by signing a 90-day, 9%. $135,000 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. ok ht Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Req 4 What is the amount of interest expense in the arent year and the following year from this note? Round final answers to the nearest whole dollar) Total through maturity Interest Expense Current Year Interest Expense Following Year $ 135,000 $ 10% Principal Rate(%) Time Total interest 135,000 $ 10% 60/360 2,250 s 135,000 10% 60/360 3,375 30/360 5,625 $ $ Check my work -4 Interest-bearing notes payable with year-end adjustments LO orrows $135,000 cash on November 1 of the current year by signing a 90-day, 9%, e. ate does this note mature? is the amount of interest expense in the current year and the following year from urnal entries to record (a) issuance of the note, (b) accrual of interest on December yment of the note at maturity. this question by entering your answers in the tabs below. Reg 2 and 3 Reg 4 nal entries to record (a) issuance of the note, (b) accrual of Interest on December 31, and (c) payment se 360 days a year. Do not round intermediate calculations.) ction list View journal entry worksheet General Journal Debit Transaction (a) Credit ) 135,000 Cash Notes payable 135,000 (b (b) Interest expense Interest payable 2,250 2.250 (C) . Notes payable Interest payable Interest expense 135,000 2,250 2,250 Cash 139,500