Help Save& Exit Check my work OS 9-4 Interest-bearing note transactions LO P On November...
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Help Save& Exit Check my work OS 9-4 Interest-bearing note transactions LO P On November 7, 2017, Mura Company borrows $160,000 cash by signing a 90-day, 8% note payable with a face value of $160,000. (Use 360 days a year. Do not round your intermediate calculations.) 1. Compute the accrued interest payable on December 31, 2017 Principal ) (Time.Interest x Rate (% -- Total through maturity Year end interest accrual Interest recognized February 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31, 2017 and payment of the note at maturity.
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