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Que: 8) On June 18, 2015, Woods Co. received from one of its customers, Webb Co., a 90 day, 12%, $12,000 note receivable, in exchange

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Que: 8) On June 18, 2015, Woods Co. received from one of its customers, Webb Co., a 90 day, 12%, $12,000 note receivable, in exchange for contract services provided. Woods Co. has a March 31 year end. Webb Co. honoured the note at maturity. Prepare the entries for the issuance and the maturity of the note. Ans

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