chapter 8

Cullumber Company had the following select transactions. Apr. 1, 2022 Accepted Goodwin Company's 12-month, 10% note in settlement of a $20,200 account receivable. July 1, 2022 Loaned $22,200 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; Cullumber expects it will eventually collect. Prepare journal entries to record the transactions. Cullumber prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit (To record interst on Goodwin Co note.) (To record interest on Slocombe note.) (To record collection of Goodwin Note.) (To record note dishonored.)