Sylvestor Systems borrows $126,000 cash on May 15 by signing a t80-day, 5%. $126.000 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 2A Enterest at Haturity Required 20 Required 20 General Jurna Nequired 1 On what date does this note mature? On what date does this note malr? red A
Sylvestor Systems borrows $126,000 cash on May 15 by signing a t80-day, 5%. $126.000 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 2A Enterest at Haturity Required 20 Required 20 General Jurna Nequired 1 On what date does this note mature? On what date does this note malr? red A
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Sylvestor Systems borrows $126,000 cash on May 15 by signing a t80-day, 5% $126,.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 20 Required 20
Interest at
Haturity
General
Jurna
Nequired 1 Required 2A
On what date does this note mature?
On what date does this note malre
red A>
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