Business, 27.07.2021 23:20 dyp

On November 7, 2017, Mura Company borrows $350,000 cash by signing a 90-day, 8 % note payable with a face value of $3500,000. (Use 360 days a year. Do not round your Intermediate calculations.) . 1. Compute the accrued interest payable on December 31, 2017. Principal x Rate (% Time Interest Total through maturity Year end interest accrual 22704 Interest recognized February 5 t December 31, 2017 and payment of the note at maturity
2. Prepare the journal entry to record the accrued Interest expense
3. Record the accrued interest expense.

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On November 7, 2017, Mura Company borrows $350,000 cash by signing a 90-day, 8 % note payable with a...

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