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cancel Sylvestor Systems borrows $161,000 cash on May 15 by signing a 60-day, 5%, $161.000 note. 1. On what date does this note mature? 2-a.
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Sylvestor Systems borrows $161,000 cash on May 15 by signing a 60-day, 5%, $161.000 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. Complete this question by entering your answers in the tabs below. Required 28 Required 28 Required 1 Required 2A Interest at General Maturity Journal Use those calculated values to prepare your entry to record payment of the note at maturity. (Use 360 days a year round final answers to the nearest whole dollar) View transaction list Journal entry worksheet Record the payment of the note at maturity, Note: Enter debits before credits Event General Journal Debit Credit Reg 1 Req 2 and 3 Reg 4 Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the maturity. (Use 360 days a year. Do not round intermediate calculations.) View transaction list Journal entry worksheet Note: Enter debits before credits Transaction (c) General Journal Debit Credit Record entry Clear entry View general Journal Step by Step Solution
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