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Exercise 8-14 Vandiver Company had the following select transactions. Accepted Goodwin Company's 12-month, 6% note in settlement of a $30,000 account receivable. July 1, 2020

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Exercise 8-14 Vandiver Company had the following select transactions. Accepted Goodwin Company's 12-month, 6% note in settlement of a $30,000 account receivable. July 1, 2020 Loaned $25,000 cash to Thomas Slocombe on a 9-month, 10% note. Dec. 31, 2020 Accrued interest on all notes receivable. Apr. 1, 2021 Received principal plus interest on the Goodwin note. Apr. 1, 2021 Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect. Prepare journal entries to record the transactions. Vandiver 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.) 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.)

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