Question: same question can u answer both please Keesha Company borrows $270,000 cash on December 1 of the current year by signing a 120-day, 8%, $270,000

Keesha Company borrows $270,000 cash on December 1 of the current year by signing a 120-day, 8%, $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 ( payment of the note at maturity Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Reg 4 What is the amount of interest expense in the current year and the following year from this note? (Use 360 days a year. Do not round Intermediate calculations and round final answers to the nearest whole dollar.) Total through maturity 270,000 8% Interest Expense Current Year 270,000 Interest Expense Following Year $ 270,000 8% S Principal Rate(%) 8% 120/360 30/360 Time 90/360 S Total interest 1,800 5,400 $ 3,600 X
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