Keesha Company borrows $215,000 cash on December 1 of the current year by signing a 90-day, 9%, $215,000 note. 1. On what date does this note mature? 2. 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 ent
Keesha Company borrows $215,000 cash on December 1 of the current year by signing a 90-day, 9%, $215,000 note. 1. On what date does this note mature? 2. 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 ent
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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