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Vandiver Company had the following select transactions. Apr. 1.2022 July 1.2022 Accepted Goodwin Company's 12-month,...

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Accounting

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Vandiver Company had the following select transactions. Apr. 1.2022 July 1.2022 Accepted Goodwin Company's 12-month, 6% note in settlement of a $30,000 account receivable. Loaned $ 25.000 cash to Thomas Slocombe on a 9-month, 10% note. Accrued interest on all notes receivable. Received principal plus interest on the Goodwin note. Dec 31, 2022 Apr. 1.2023 Apr. 1.2023 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 Date Account Titles and Explanation Debit Credit 4/1/22 Notes Receivable 30000 Accounts Receivable 30000 7/1/22 Notes Receivable 25000 Cash 25000 12/31/22 Interest Receivable Interest Revenue (To record interest accrued on Goodwin note) (To record interest accrued on Thomas note) 4/1/23 0000 (To record collection of Goodwin note and interest) DATA (To record the dishonor of Thomas note)

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