Sylvestor System borrows $70,000 on May 15 by signing a 90-day, 5%, $70000 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 the entry to record the payment of the note at maturity.