Watson Co. 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.) When required, round your answers to the nearest dollar.

a. Determine the due date of the note.

b. Determine the maturity value of the note. $

c. Journalize the entries to record the following:

Receipt of the note by the payee.

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.
2.