Sylvestor Systems borrows $149,000 cash on May 15 by signing a 150-day, 7%, $149,000 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 your entry to record payment of the note at maturity.

Complete this question by entering your answers in the tabs below.

Required 1

Required 2A

Required 2B Interest at Maturity

Required 2B General Journal

On what date does this note mature?

On what date does this note mature?

Required 2A

Prepare the entry to record issuance of the note.

Journal entry worksheet

Record the issuance of the note.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
May 15

Required 2B Interest at Maturity

Required 2B General Journal

First, complete the table below to calculate the interest expense at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.)

	Interest at Maturity
Principal
Rate (%)
Time
Total interest

Use those calculated values to prepare your entry to record payment of the note at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.)

Journal entry worksheet

Record the payment of the note at maturity.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
Maturity