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Sylvestor Systems borrows $114,000 cash on May 15, 2018, by signing a 90-day, 5% note. 1. On what date does this note mature? 2. Assume

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Sylvestor Systems borrows $114,000 cash on May 15, 2018, by signing a 90-day, 5% note. 1. On what date does this note mature? 2. Assume the face value of the note equals $114,000, the principal of the loan. (a) Prepare the journal entry to record issuance of the note. (b) First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your journal entry to record payment of the note at maturity Complete this question by entering your answers in the tabs below. Reg 28 Reg 1 Req 2A Reg 2B Interest Expense General Journal On what date does this note mature? On what date does this note mature? Regi Reg 2A > entry to record payment of the note at maturity, Complete this question by entering your answers in the tabs below. Reg 2B Reg 28 Reg 1 Reg 2A Interest General Expense Journal Assume the face value of the note equals $114,000, the principal of the loan. Prepare the journal entry to record issuance of th View transaction list Journal entry worksheet Record the issuance of the note. Note: Enter debits before credits. General Journal Debit Credit Date May 15 Record entry Clear entry View general journal Sylvestor Systems borrows $114,000 cash on May 15, 2018, by signing a 90-day, 5% note. 1. On what date does this note mature? 2. Assume the face value of the note equals $114,000, the principal of the loan. (a) Prepare the journal entry to record issuance of the note. (b) First, complete the table below to calculate the interest expense at maturity. Use those calculate entry to record payment of the note at maturity. Complete this question by entering your answers in the tabs below Reg 2B Reg 2B Req 1 Reg 2A Interest General Expense Journal Assume the face value of the note equals $114,000, the principal of the loan. First, complete the table belo interest expense at maturity. nces Interest at Maturity Principal Rate(%) Time Total interest Reg 28 Reg 28 Reg 1 Reg 2A Interest General Expense Journal Use those calculated values to prepare your journal entry to record payment of the note at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.) View transaction list Journal entry worksheet Record the payment of the note at maturity Note: Enter debits before credits Date General Journal Debit Credit August 13 Record entry Clear entry View general Journal

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