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Current Attempt in Progress Shamrock Company had the following select transactions. Accepted Goodwin Company's 12-month, 6% note in settlement of a $38,000 account receivable.
Current Attempt in Progress Shamrock Company had the following select transactions. Accepted Goodwin Company's 12-month, 6% note in settlement of a $38,000 account receivable. Loaned $22,000 cash to Thomas Slocombe on a 9-month, 12% note. Apr. 1.2025 July 1,2025 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: Shamrock expects it will eventually collect. Prepare journal entries to record the transactions. Shamrock prepares adjusting entries once a year on December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
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