Joo Co. borrows \( \$ 250,000 \) cash on December 5,2007 , by signing a 90 days, \( 9 \% \) note . ( \( 10 \mathrm{pts} \) )
a. On what date does this note mature?
b. How much interest expense result from this note in 2007 and 2008 ?
c. Journal Entries (1) Issuance of note, (2) Accrual interest on 2007, (3) Payment of note at maturity