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Prepare the journal entries to record the September 30,2023 transaction on the books of Thornton,...

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Accounting

Prepare the journal entries to record the September 30,2023 transaction on the books of Thornton, Sheridan, and Orsini. (Credit Thornton:
Sep. 30,
2023
(To accrue interest income)
Sep. 30,
2023
(To record sale of note)
Sheridan: (To record sale of note)
Sheridan:
Sep. 30,
2023
Orsini:
Sep. 30,
2023 For each company, indicate whether the transaction is a restructuring of troubled debt.
Thornton
Sheridan
OrsiniPrepare the journal entries to record the December 31,2023 transaction on the books of Sheridan and Orsini. (Credit account
titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No
Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
Date
Account Titles and Explanation
Debit
Credit
Sheridan:
Dec. 31,
2023
(To record accrued interest expense)
Dec. 31,
2023
account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select
"No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.)
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