Question: Hello, I need help with this question: Sylvestor Systems borrows $110,000 cash on May 15, 2018, by signing a 60 day, 12% note. 1. On





Sylvestor Systems borrows $110,000 cash on May 15, 2018, by signing a 60 day, 12% note. 1. On what date does this note mature? 2. Assume the face value of the note equals $110.000, the principal of the loan (a) Prepare the journal entry to record issuance of the note. (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.) Complete this question by entering your answers in the tabs below Req1 Reg 2A Req 28 Interest Expense Reg 28 General Journal On what date does this note maturo? Req 2A > Complete this question by entering your answers in the tabs b Req 1 Reg 2A Req 2B Interest Expense Reg 2B General Journal On what date does this note mature? July 11, 2018 July 13, 2018 July 14, 2018 July 15, 2018 July 16, 2018 Req 1 Req 2A Req 2B Interest Expense Req 2B General Journal Assume the face value of the note equals $110,000, the principal of the loan. Prepare the journal entry to record issuan View transaction list Journal entry worksheet LLLLLLLL IS Record the issuance of the note. Note: Enter debits before credits. Date General Journal May 15 Debit Credit AN Journal entry worksheet Record the issuance of the note. Note: Enter debits before credits. Date General Journal Debit Credit May 15 Record entry Clear entry View general journal ROC Reg 2B Interest Expenses In Wnat date does this note mature? 2. Assume the face value of the note equals $110,000, the principal of the loan (a) Prepare the journal entry to record issuance of the note (b) First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your jo entry to record payment of the note at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.) Complete this question by entering your answers in the tabs below Req 1 Req 2A Req 2B Interest Expense Reg 2B General Journal Assume the face value of the note equals $110,000, the principal of the loan. First, complete the table below to calculate the interest expense at maturity Interest at Maturity Principal Rate(%) Time Total interest Reg 21 General Journal > Journal entry worksheet Record the payment of the note at maturity. Note: Enter debits before credits. General Journal Debit Credit Event Jul 14 Record entry Clear entry View general journal SOCIAL
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