Question: plz answer all queations and fast plz! Journal entry worksheet Record the issuance of the note on November 1. Note: Enter debits before credits. Journal



Journal entry worksheet Record the issuance of the note on November 1. Note: Enter debits before credits. Journal entry worksheet Record the interest accrued on the note as of December 31, current year. Note: Enter debits before credits. Keesha Company borrows $210,000 cash on November 1 of the current year by signing a 180-day, 8%,$210,000 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. On what date does this note mature? Note: Assume that February has 28 days. Keesha Company borrows $210,000 cash on November 1 of the current year by signing o 180 -day, 8%,$210,000 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 rour answers in the tabs below. What is the amount of intereit expense in the current vex and the following year from this note? Note: Use 360 davs a yeat, Do not round intermedate calculations and round final answers to the nearrat whole dollar
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
