Question: Sylvestor Systems borrows $ 9 5 , 0 0 0 cash on May 1 5 by signing a 1 2 0 - day, 4 %

Sylvestor Systems borrows $95,000 cash on May 15 by signing a 120-day, 4%, $95,000 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.
On what date does this note mature?
On what date does this note mature? Sylvestor Systems borrows $95,000 cash on May 15 by signing a 120-day, 4%, $95,000 note.
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 1
Required 2A
Required 2B
Required 2B
Interest at
General
Maturity
Journal
Prepare the entry to record issuance of the note.
Journal entry worksheet
1
Record the issuance of the note.
Note: Enter debits before credits. Sylvestor Systems borrows $95,000 cash on May 15 by signing a 120-day, 4%,$95,000 note.
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 2B
Required 2B
Interest at
General
Maturity
Journal
First, complete the table below to calculate the interest expense at maturity.
Note: Use 360 days a year. Round final answers to the nearest whole dollar.
Required 2A Sylvestor Systems borrows $95,000 cash on May 15 by signing a 120-day, 4%,$95,000 note.
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.
Use those calculated values to prepare your entry to record payment of the note at maturity.
Note: Use 360 days a year. Round final answers to the nearest whole dollar.
Journal entry worksheet
Record the payment of the note at maturity.
Note: Enter debits before credits.
Sylvestor Systems borrows $95,000 cash on May 15 by signing a

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