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Sylvester Systems borrows $110,000 cash on May 15 by signing a 60-day, 12%, $110,000 note. 1. On what date does this note mature? 2. Prepare

Sylvester Systems borrows $110,000 cash on May 15 by signing a 60-day, 12%, $110,000 note. 1. On what date does this note mature? 2. Prepare the entries to record (a) issuance of the note and (b) payment of the note at maturity.

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