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Exercise 8-14 Pina Colada Company had the following select transactions Apr 1, 2019 Accepted Goodwin Company's 12-month, 12% note in settlement of a $67,800 account
Exercise 8-14 Pina Colada Company had the following select transactions Apr 1, 2019 Accepted Goodwin Company's 12-month, 12% note in settlement of a $67,800 account receivable July 1, 2019 Loaned $69,800 cash to Thomas Slocombe on a 9-month, 10% note. Dec 31, 2019 Accrued interest on all notes receivable. Apr 1, 2020 Received principal plus interest on the Goodwin note Apr 1, 2020 Thomas Slocombe dishonored its note; Pina Colada expects it wil eventually collect Prepare journal entries to record the transactions. Pina Colada prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Nound intermediate calculations to 2 decimal places, ag. 15.25 and final answers to O decimal places.. 3,275.) 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 collection of Goodwin Note.) (To record note dishonored.)
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