On April 5, Laker Company received an $18,000, 8%, 60-day note from Watson Co. in payment of Watson's account receivable. 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 for the following: 1. Receipt of the note by the payee. 2. Receipt by the payee of the amount due on the note at maturity. If an amount box does not require an entry, leave it blank. 1. N 2.

On April S, Laker Company recelved an $18,000,8%,60-day note from Watson Co. in payment of Watson's account receivable. 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 for the following: 1. Receipt of the note by the payee. 2. Recelpt by the payee of the amount due on the note at maturity. If an amount box does not require an entry, leave it blank