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The Watertown Bank lent Sandy's Pastry Store $40,000 on a 4 month, 7% note dated May 31, 2017. The fiscal year end of the bank

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The Watertown Bank lent Sandy's Pastry Store $40,000 on a 4 month, 7% note dated May 31, 2017. The fiscal year end of the bank is June 30. Round all amounts to the nearest dollar. Required: 1. Determine the due date of the note 2. Determine the maturity value of the note. 3. Prepare the journal entries made by the bank. Omit explanations DATE ACCOUNT DEBIT CREDIT

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