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Record the issuance of the note on june

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Question - Assume, that on June 2, 2022, PVH Corp., borrowed $10,500,000 cash from Fifth Third Bank to meet short- term obligations. PVH signed a 5% note and promised to repay the note in 100 days. All interest will be paid when the note is due. Assume the company records only the two entries: borrowing and payment. Use 360-day year and round your answer to the nearest dollar.

Required -

1. Find the maturity date of the note.

2. Record the issuance of the note on June 2.

3. Record payment of the note and interest at maturity.

Reference no: EM133186698

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