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Could you explain how to do it, please? 1 Sylvestor Systems borrows $59,000 cash on May 15 by signing a 180-day, 7%, $59,000 note. 1
Could you explain how to do it, please?
1 Sylvestor Systems borrows $59,000 cash on May 15 by signing a 180-day, 7%, $59,000 note. 1 points 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. eBook Required 1 Required 2A Required 2B Interest at Maturity Required 2B General Journal Hint On what date does this note mature? Print On what date does this note mature? References Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2A Required 2B Interest at Maturity Required 2B General Journal Hint Prepare the entry to record issuance of the note. Print View transaction list References Journal entry worksheet 1 > Record the issuance of the note. Note: Enter debits before credits. General Journal Debit Credit Date May 15 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. eBook Required 1 Required 2A Required 2B Interest at Maturity Required 2B General Journal Hint First, complete the table below to calculate the interest expense at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.) Print Interest at Maturity References Principal Rate (%) Time Total interest Complete this question by entering your answers in the tabs below. eBook 00 Hint Required 2B Required 2B 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 da to the nearest whole dollar.) Print View transaction list References Journal entry worksheet Record the payment of the note at maturity. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journalStep by Step Solution
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