Velor Inc. borrowed $40,000 on December 1, 2014, for 45 days at 6% interest by signing a note. a) Determine the date the note matures, and calculate how much interest expense is generated by this note, both for 2014 and 2015. Dates must be entered in the format dd/mmm (ie. 15/Jan). Round a to two decimal places On what day will this note mature? 15 Jan How much interest expense is created by this note in 2014? How much interest expense is created by this note in 2015? b) Prepare velor Inc.'s journal entries on December 1, 2014 December 31, 2014, and the maturity date. Enter an appropriate description when entering the transactions in the journal Dates must be ente the format dd/mmm (ie January 15 would be 15/Jan). General Joumal Date Account/Explanation F Debit Page 2 Credit + +