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Exercise 9-4 (Algo) Accounting for note oayable LO P1 Exercise 9-4 (Algo) Accounting for note payable LO P1 Sylvestor Systems borrows $51,000 cash on May
Exercise 9-4 (Algo) Accounting for note oayable LO P1
Exercise 9-4 (Algo) Accounting for note payable LO P1 Sylvestor Systems borrows $51,000 cash on May 15 by signing a 30-day, 6%,$51,000 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. On what date does this note mature? Journal entry worksheet Note: Enter debits before credits. First, complete the table below to calculate the interest expense at maturity. nearest whole dollar.) Use those calculated values to prepare your entry to record payment of the note at maturity. (Use 3 to the nearest whole dollar.) Journal entry worksheet Record the payment of the note at maturity. Note: Enter debits before credits Step by Step Solution
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