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Sylvestor 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

Sylvestor 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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