Question: I need help with this, I cannot figure out the missing items on the journal entriesMarin Company had the following select transactions. Apr. 1 ,

I need help with this, I cannot figure out the missing items on the journal entriesMarin Company had the following select transactions.
Apr. 1,2025 Accepted Goodwin Company's 12-month, 6% note in settlement of a $49,000 account receivable.
July 1,2025 Loaned $22,000 cash to Thomas Slocombe on a 9-month, 9% note.
Dec. 31,2025 Accrued interest on all notes receivable.
Apr. 1,2026 Received principal plus interest on the Goodwin note.
Apr. 1,2026 Thomas Slocombe dishonored its note; Marin expects it will eventually collect.
Prepare journal entries to record the transactions. Marin prepares adjusting entries once a year on December 31.(List all debit entries
before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal
entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
(To record collection of Goodwin note and interest)
Notes Receivable
Interest Receivable
(To record the dishonor of Thomas note)
 I need help with this, I cannot figure out the missing

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!