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Hi, I need an explanation and Excel's formulas for these answers in this. Thank you. On...

Hi, I need an explanation and Excel's formulas for these answers in this. Thank you.

On November 30, 20X1 ABC corporation borrows $72,000 from the bank by signing a 60 day, 5% note agreement. Round values to 2 decimal places.

Calculate the interest that should be accrued on this note at December 31, 20X1. Answer: 310

How much is the debit to Interest expense on the maturity date of the note assuming ABC corporation pays as agreed. Ans: $290

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