Needing help on homework Please write each step so I can see why I am getting these problems wrong as I tried a few times with no success therefore asking a tutor Thank you in advance Apr 1, 2020 Accepted Goodwin Companys 12 month, 10 note in settlement of a $46,400 account receivable July 1, 2020 Loaned $48,400 cash to Thomas Slocombe on a 9 month, 8 note Dec 31, 2020 Accrued interest on all notes receivable Apr 1, 2021 Received principal plus interest on the Goodwin note Apr 1, 2021 Thomas Slocombe dishonored its note Tamarisk expects it will eventually collect DATE 4 1 21 cash Notes payable credit 46400 i nterest receivable Interest rev credit 1160 DATE 4 1 21 Account receivable notes receivable 48400 Interest receivable Interest revenue

The Answer is in the image, click to view ...

Question: Needing help on homework. Please write each step so I can see why I am getting these problems wrong as I tried a few times

Needing help on homework. Please write each step so I can see why I am getting these problems wrong as I tried a few times with no success. therefore asking a tutor. Thank you in advance!

Apr.	1,	2020	Accepted Goodwin Companys 12-month, 10% note in settlement of a $46,400 account receivable.
July	1,	2020	Loaned $48,400 cash to Thomas Slocombe on a 9-month, 8% note.
Dec.	31,	2020	Accrued interest on all notes receivable.
Apr.	1,	2021	Received principal plus interest on the Goodwin note.
Apr.	1,	2021	Thomas Slocombe dishonored its note; Tamarisk expects it will eventually collect.

DATE 4/1/21

cash?

Notes payable - credit 46400

interest receivable?

Interest rev - credit 1160

DATE 4/1/21

Account receivable ?

notes receivable - 48400

Interest receivable ?

Interest revenue?

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!

Chapter 7 Revising and Presenting Your Writing I'm not a very good writer, but I'm an excellent rewriter. James A. Michener Half my life is an act of revision. John Irving Getting Started INT RODU CT...

Steve Raucci Please Read Please Summarize and use theses in summary. How would you best describe Steves management style? What was the most surprising thing about the case? What would have done if...

Read The consulting process: A multidimensional approach by Kurpius, DeWayne J;Fuqua, Dale R;Rozecki, Thaddeus. Tell us what article you read and your reaction to the article. Your 'audience' is your...

Write two paragraphs for Chapter 14 (Maximum seven grammatically correct complete sentences in each paragraph). One summarizing the chapter and one what you learned in each chapter. It should be your...

Introduction1 In early September, Jackie McKenzie stood in the checkout aisle of the grocery store and watched with fear as the cashier rung her up. With each quick swipe of the cashier's hands,...

The case assignment will be based on Case #13 in your textbooks (Thompson, Strickland, Gamble, Peteraf (23e) - Crafting and Executing Strategy: The Quest for Competitive Advantage Concepts and Cases,...

Read Chapters 1,2,4,7 and Write a 800 - 1000 word Reflection Paper Grading : ?Thoughtfulness?Reactions,personal experiences,criticisms, etc. ?Application to your futureprofessional(and personal)life...

Please read the following: 1. How would you work with the Executive Leaders of Dannon to implement the CSR program? Please write at least a page The Dannon Company: Marketing and Corporate Social...

If average economic profits from investment in innovation are close to zero, why would many people be anxious to invest in innovation?

You are the CFO of an airline and you are concerned that jet fuel prices will increase. You know that there are no futures for jet fuel, but there are futures for gasoline. So, you call decide to...

1 . Which of the following situations WOULD receive coverage under a personal umbrella policy? A . flood damage to the insured's residence B . business and professional liability C . remaining...

8-6 Who poses the biggest security threat: insiders or outsiders?

8-12 In MyMISLab, you will find a Collaboration and Teamwork Project dealing with the concepts in this chapter. You will be able to use Google Drive, Google Docs, Google Sites, Google+, or other open...

8-14 Describe some of the main points of the Digital Agenda for Europe. The IT sector is one of the key drivers of the European economy. It has been estimated that 60 percent of Europeans use the...