Exercise 9-3 Accounting for note payable LO P1 Sylvestor Systems borrows $175,000 cash on May 15 by signing a 30-day, 6%, $175,000 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 1 Required 2A Interest at Maturity On what date does this note mature? Required 28 General Journal On what date does this note mature? Roque Required 2A > Exercise 9-3 Accounting for note payable LO P1 Sylvester Systems borrows $175,000 cash on May 15 by signing a 30 day, 6%, $175,000 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 20 Required 1 Required 2A Interest at General Maturity Joumal Prepare the entry to record issuance of the note. View transaction list Journal entry worksheet Sylvestor Systems borrows $175,000 cash on May 15 by signing a 30-day, 6% $175.000 note 1. On what date does this note mature? 2-a. Prepare the entry to record issuance of the note. 2-5. 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 2B 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 1 Record entry Clear entry View general Journal
