Exercise 8-12

Vandiver Company had the following select transactions.

Apr.	1,	2014		Accepted Goodwin Companys 12-month, 16% note in settlement of a $41,800 account receivable.
July	1,	2014		Loaned $43,800 cash to Thomas Slocombe on a 9-month, 14% note.
Dec.	31,	2014		Accrued interest on all notes receivable.
Apr.	1,	2015		Received principal plus interest on the Goodwin note.
Apr.	1,	2015		Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect.

-repare Journal entres to record the tra nsactions, vandi prepares adjusting entres once a year on Dece m Der 31. automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Deblt Credit 4/1/2015 7/1/2015 12/31/2015 (To record interest at 16%) (To record interest at 14%) 4/1/2016 To record collection and interest)