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Sylvestor Systems borrows $77,000 cash on May 15, 2017, by signing a 30-day, 5% note. 1. On what date does this note mature? (b)

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Sylvestor Systems borrows $77,000 cash on May 15, 2017, by signing a 30-day, 5% note. 1. On what date does this note mature? (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. (Use 360 days a year. Round final answers to the nearest whole dollar.) O June 13, 2017 O June 14, 201/ O June 15, 2017 O June 16, 2017 O June 17, 2017 2. Assume the face value of the note equals $77,000, the principal of the loan. (a) Prepare the journal entry to record issuance of the note. View transaction list Journal entry worksheet Principal Rate (%) Time Total interest Record the Issuance of the note. View transaction list Note: Enter debits before credits. Interest at Maturity Journal entry worksheet 1

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