Watson Company issued a 60-day, 8% note for $18,000, dated April 5, to Laker Company on account. Assume a 360-day year when calculating interest.(a)Determine the due date of the note.(b)Determine the maturity value of the note.(c)Journalize the entries to record the following:
(1)Receipt of the note by the payee
(2)Receipt by the payee of the amount due on the note at maturity. Round answers to the nearest $1.

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The Answer of Watson Company issued a 60-day, 8% note for $18,000, dated April 5, to Laker Company on account. Assume a 360-day year when calculating interest.(a)Determine the due date of the note.(b)Determine the maturity value of the note.(c)Journalize the entries to record the following:
(1)Receipt of the note by the payee
(2)Receipt by the payee of the amount due on the note at maturity. Round answers to the nearest $1.

Watson Company Issued a 60-Day, 8% Note for $18,000, Dated