Sylvestor Systems borrows $68,000 cash on May 15 by signing a 30-day, 5%, $68,000 note. 1....
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Sylvestor Systems borrows $68,000 cash on May 15 by signing a 30-day, 5%, $68,000 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 28 Required 28 Required 1 Required 2A Interest at Maturity 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.) Principal Rate (%) Time Total interest Interest at Maturity Sylvestor Systems borrows $68,000 cash on May 15 by signing a 30-day, 5%, $68,000 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 28 Required 28 Required 1 Required 2A Interest at Maturity 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.) Principal Rate (%) Time Total interest Interest at Maturity
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