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Exercise 3 (18 points) (Please answer in booklet and show'work for partial credit!) The Fenster Company had the following select transactions. Apr. 1, 2021 Accepted

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Exercise 3 (18 points) (Please answer in booklet and show'work for partial credit!) The Fenster Company had the following select transactions. Apr. 1, 2021 Accepted Alice Company's 1-year, 8% note in settlement of a $20,000 account receivable. July 1,2021 Loaned $15,000 cash to Al Miller on a 9 -month, 6% note. Dec. 31, 2021 Accrued interest on all notes receivable. Apr. 1, 2022 Received principal plus interest on the Alice note. Apr. 1,2022 Al Miller dishonored its note: Gleason expects it will eventually collect. Instructions Prepare journal entries to record the transactions. The Gleason Company prepares adjusting entries once a year on December 31

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