May 1 Received a $9,000, 12-month, 6% note in exchange for Mark Chamber's outstanding accounts receivable. Dec. 31 Dec. 31 Accrued interest on the Chamber note. Closed the interest revenue account. 2021 May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2021.) E8.14 (LO 3) Vandiver Company had the following select transactions. Apr. 1, 2020 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. Instructions Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a y December 31 E8.15 (LO 3) On May 2, McLain Company lends $9,000 to Chang, Inc., issuing a 6-month, 7% no b. Record tHe U E8.13 (LO 3) Record the following transactions for Rll 2020 May 1 Received a $9,000, 12-month, 6% note in exchange for Mark Chamber's outstanding accounts receivable. Dec. 31 Accrued interest on the Chamber note. Dec. 31 Closed the interest revenue account. 2021 ipal plus interest on the Chamber note. (No interest has been accrued in 2021.) E8.14 (LO 3) Vandiver Company had the following select transactions Prepare entries for notes Goodwin Company's 12-month, 6% note in settlement of a s3000 Apr. 1, 2020 Accepted account receivable. July 1, 2020 Loaned $25,000 cash to Thomas Slocombe on a July 41,2020locombe 9-month, 10% note. Accrued interest on all notes receivable. 31, 2020 Dec. Received principal plus interest on the Goodwin note. Apr. 1,2021 Apr. 1, 2021 Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect. Instructions Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a year on E8.15 (LO 3) On May 2, McLain Company lends $9,000 to Chang, Inc., issuing a 6-month, 7% note. At the maturity date, November 2, Chang indicates that it cannot pay Journal rent of notes recei Instructions Prepare the entry to record the issuance of the note. rntry to record the dishonor of the note, assuming that McLain Company expects or of the note, assuming that McLain Company does not at October 31, 2020 (in uher Receivables Pre pr