Windsor Company had the following select transactions. Apr 1.2022 Accepted Goodwin Company's 12-month, 7% note in...

 

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Windsor Company had the following select transactions. Apr 1.2022 Accepted Goodwin Company's 12-month, 7% note in settlement of a $34,000 account receivable. Loaned $21,000 cash to Thomas Slocombe on a 9-month, 10% note. July 1,2022 Dec 31 2022 Accrued interest on all notes receivable. Apr. 1,2023 Received principal plus interest on the Goodwin note. Apr, 1,2023 Thomas Slocombe dishonored its note: Windsor expects it will eventually collect. Prepare journal entries to record the transactions. Windsor prepares adjusting entries once a year on December 31. (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) Windsor Company had the following select transactions. Apr 1.2022 Accepted Goodwin Company's 12-month, 7% note in settlement of a $34,000 account receivable. Loaned $21,000 cash to Thomas Slocombe on a 9-month, 10% note. July 1,2022 Dec 31 2022 Accrued interest on all notes receivable. Apr. 1,2023 Received principal plus interest on the Goodwin note. Apr, 1,2023 Thomas Slocombe dishonored its note: Windsor expects it will eventually collect. Prepare journal entries to record the transactions. Windsor prepares adjusting entries once a year on December 31. (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)

Answer rating: 100% (QA)

The transactions are journalized below Date Accounts titles and Explanation Debit Credit April 1 20... View the full answer