Motora Systems borrows $137,000 cash on May 15, 2009, by signing a 180-day, 9% note. 1. On what date does this note mature?
2. Suppose the face value of the note equals $137,000, the principal of the loan. Prepare the journal entries to record
(a) issuance of the note and (b) payment of the note at maturity.
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