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1 3 points Sylvestor Systems borrows $198,000 cash on May 15 by signing a 90-day, 8%, $198,000 note. 1. On what date does this
1 3 points Sylvestor Systems borrows $198,000 cash on May 15 by signing a 90-day, 8%, $198,000 note. 1. On what date does this note mature? 2-a. Prepare the entry to record issuance of the note. 2-b. First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your entry to record payment of the note at maturity.
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Intermediate Accounting
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
Volume 1, 6th Edition
1259103250, 978-1259103254, 978-0071339476
