Exercise 9-3 Accounting for note payable LO P1 Sylvestor Systems borrows $145,000 cash on May 15, 2017, by signing a 120-day, 7% note. 1. On what date does this note mature? September 11, 2017 September 12, 2017 September 13, 2017 September 14, 2017 September 15, 2017 2. Assume the face value of the note equals $145,000, the principal of the loan. (a) Prepare the journal entry to record issuance of the note. View transaction list Journal entry worksheet Record the issuance of the note. Note: Enter debits before credits Date General Journal Debit Credit May 15 (b) First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your journal entry to record payment of the note at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.) Interest at Maturity Principal Rate(%) Time Total interest 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