Please check my work Keesha Company borrows $250.000 cash on December 1 of the current year by signing a 150-day. 9%. $250.000 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 entrles to record (a) issuance of the note. (by accrual of Interest on December 31, and (c payment of the note atmaturity.QUESTION 1. What date does this more mature? (please answer this too) Keesha Company borrows $250,0001. On what date does this note mature?2 & 3. What is the amount of Interest expense in the current year and the following year 14. Prepare Journal entries to record (a) Issuance of the note, (b) accrual of Interest on Decematurity.Complete this question by entering your answers in the tabs below.Req 1Reg 2 and 3PrincipalRate(%)TimeTotal interestWhat is the amount of interest expense in the current year and the following year from this noNote: Use 360 days a year. Do not round intermediate calculations and round final answers toReq 4Total through Interest ExpensematurityCurrent YearSS250,000 $9%150/3609,375 S250,00030/360$1,875 S< Req 1Interest ExpenseFollowing Yearچلے250,000120/3607,500Req 4 > Ceesha Company borrows $250.000 cash on December 1 of the current year by signing a 150-day, 9%, $250,000 not1. 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 ofmaturity.Complete this question by entering your answers in the tabs below.Req 1IPrepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the notmaturity.Note: Use 360 days a year. Do not round intermediate calculations.View transaction letNNo1/ 2Reg 2 and 33Transaction(a)(b)Req 4(c)View Journal entry worksheetCashNotes payableInterest expenseInterest payableNotes payableInterest expenseInterest payableCashGeneral Journal< Req 2 and 3Debit250,0001,875250,0007,500Credit250,0001,8757,500250,000X

Notes Payable is a piece of documentary evidence issued by the borrower to the payee. This document…

Please check my work Keesha Company borrows $250.000 cash on December 1 of the current year by signing a 150-day. 9%. $250.000 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 entrles to record (a) issuance of the note. (by accrual of Interest on December 31, and (c payment of the note at maturity. QUESTION 1. What date does this more mature? (please answer this too

Please check my work Keesha Company borrows $250.000 cash on December 1 of the current year by signing a 150-day. 9%. $250.000 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 entrles to record (a) issuance of the note. (by accrual of Interest on December 31, and (c payment of the note at maturity. QUESTION 1. What date does this more mature? (please answer this too

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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