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Sylvester Systems borrows $ 1 1 0 , 0 0 0 cash on May 1 5 by signing a 1 year, 1 2 % ,

Sylvester Systems borrows $110,000 cash on May 15 by signing a 1 year, 12%, $110,000 note. [25 Points) a. On what date does this note mature? b. Prepare the entry to record issuance of the note. c. Prepare the entry to record interest on Dec. 31 of year 1 d. Record the entry to record payment of the note at maturity

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