Question: Please answer all questions. Thanks Your answer is partially correct. Try again. Vandiver Company had the following select transactions Apr 1, 2017 Accepted Goodwin Company's
Please answer all questions. Thanks Your answer is partially correct. Try again. Vandiver Company had the following select transactions Apr 1, 2017 Accepted Goodwin Company's 12-month, 16% note in settlement of a $55,800 account receivable. July 1, 2017 Loaned $57,800 cash to Thomas Slocombe on a 9-month, 14% note. Dec. 31, 2017 Accrued interest on all notes receivable. Apr. 1, 2018 Received principal plus interest on the Goodwin note Apr. 1, 2018 Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect. Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit Accounts Receivabe 71/17 Notes Receivable ?1 2/31/17 Tinterest Receivable interest Revenue (To record interest at 16%.) Cash Notes Receivable
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