Vandiver Company had the following select transactions.

Apr. 1,2025 Accepted Goodwin Company's 12-month, \(6 \%\) note in settlement of a \(\$ 30,000\) account receivable.

July 1, 2025 Loaned \(\$ 25,000\) cash to Thomas Slocombe on a 9-month, \(10 \%\) note.

Dec. 31, 2025 Accrued interest on all notes receivable.

Apr. 1, 2026 Received principal plus interest on the Goodwin note.

Apr. 1, 2026 Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect.

Instructions

Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a year on December 31.