P10-2B These are transactions of W Company which prepares financial statements quarterfy Feb 01 . Received $40,000 in Cash from YCo in exchange for a note at 9% interest for 2 mos Mar 31 . Accrued interest for 2 months on YCo note Apr 1Paid face value and interest on YCo note t from K Corp paying $11,000 'n cash and signing a 10%, 3- month, $40,000 note Tip: interest is always expressed as an "annual" amount BUT-the term" of the note may be LESS THAN a full year. Check the terim of the note! Sep 30.. Accrued interest for 3 months on K Corp note Oct 1.. .Paid face value and interest on K Corp note of th PROBLE PROBLEM 10-2B.. (Working Papers) Feb 01 2017 Apr 01 July 01 Sept 30 Oct 01