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.

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.