Exercise 9-3 Accounting for note payable P1 Check (2b) Interest expense. $2.200 Sylvestor Systems borrows $110,000 cash on May 15, 2017, by signing a 60-day, 12% note. 1. On what date does this note mature? 2. Suppose the face value of the note equals $110,000, the principal of the loan. Prepare the journal en tries to record (a) issuance of the note and (b) payment of the note at maturity