please write the answers clearly. Thank you. Vandiver Company had the following...
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please write the answers clearly. Thank you.
Vandiver Company had the following select transactions. Apr. 1, 2014 Accepted Goodwin Company's 12-month, 10% note in settlement of a $94,600 account receivable. July 1, 2014 Loaned $96,600 cash to Thomas Slocombe on a 9-month, 8% note. Dec 31, 2014 Accrued interest on all notes receivable. Apr. 1, 2015 Received principal plus interest on the Goodwin note. Apr. 1, 2015 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. (C Date Account Titles and Explanation Debit Credit 4/1/2015 7/1/2015 12/31/2015 (To record interest at 10%) (To record interest at 8%) 4/1/2016 (To record collection and interest) (To record the dishonour)
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