Sylvestor Systems borrows $195,000 cash on May 15, 2017, by signing a 120-day, 6% note. 1. On what date does this note mature? September 11, 2017 September 12, 2017 Correct September 13, 2017 September 14, 2017 September 15, 2017 2. Assume the face value of the note equals $195,000, the principal of the loan. Explanation Maturity date = May 15 + 120 days = September 12, 2017. Required information [The following information applies to the questions displayed below.] BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $118,500 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 2.9% of the first $7,000 paid to its employee. Gross Pay through August Gross Pay for September a. $ 6,400 $ 1,700 b.
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