Splish Brothers Company had the following select transactions. Apr. 1, 2022 Accepted Goodwin Companys 12-month,...
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Splish Brothers Company had the following select transactions. Apr. 1, 2022 Accepted Goodwin Companys 12-month, 10% note in settlement of a $26,400 account receivable. July 1, 2022 Loaned $28,400 cash to Thomas Slocombe on a 9-month, 8% note. 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; Splish Brothers expects it will eventually collect. Prepare journal entries to record the transactions. Splish Brothers prepares adjusting entries once a year on December 31. (
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