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On June 18,2015,Woods Co

Question 106

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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. 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.

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