Exercise $9-4($Algo$)$ Accounting for note payable LO P$1$

Sylvestor Systems borrows $$172,000$ cash on May $15$ by signing a $30-$day, $6\%,$$$172,000$ note.

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 $1$

Required $2$A

Required $2$B

Required $2$B

Interest at

General

Maturity

Journal

On what date does this note mature?