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Use the following information for the next six (6) questions. The following transactions took place for Wood Corporation in 2012 and 2013. 2012 Jun 1: Received a $5,000 one-year promissory note carrying a 6% interest rate from Sue Forest in exchange for her account. Interest is due on maturity. Nov 1: Sold merchandise on account to Sampson Ltd for $8.000 terms 2/10,n30. The cost of the merchandise was $6000 and Woods uses a perpetual inventory system. Nov 9: Received payment in full from Sampson Ltd. Dec 31: Accrued the year-end interest on Forest's note. 2013 Jun 1: Sue Forest honoured her promissory note by paying interest and principal. 15. The journal entry on Jun 1, 2012, will include a: (a) DEBIT to Accounts Receivable of $5,000 (b) DEBIT to Notes Receivable of $5,000 (c) CREDIT to Notes Receivable of $5,000 (d) CREDIT to interest Payable of $300 16. The journal entries on Nov 1, 2012, will include a: (a) DEBIT to Accounts Receivable of $8,000 (b) DEBIT to Inventory of $8,000 (c) CREDIT to Cost of Goods Sold of $6,000 (d) CREDIT to Notes Receivable of $6,000 17. The journal entries on Nov 1, 2012, will include a: (a) DEBIT to Cost of Goods Sold of $6,000 (b) DEBIT to Sales of $8,000 (c) CREDIT to Notes Receivable of $6,000 (d) CREDIT to Accounts Receivable of $8,000 18. The journal entry on Nov 9, 2012, will include a: (a) CREDIT to Cash of $7,800 (b) CREDIT to Accounts Receivable of $7,800 (c) DEBIT to Sales Discount of $160 (d) DEBIT to Cash of $8,000

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