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Metlock Company had the following select transactions. Apr 1, 2022 Accepted Goodwin Company's 12-month, 6% note in settlement of a $45,000 account receivable. July 1,

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Metlock Company had the following select transactions. Apr 1, 2022 Accepted Goodwin Company's 12-month, 6% note in settlement of a $45,000 account receivable. July 1, 2022 Loaned $23,000 cash to Thomas Slocombe on a 9-month, 12% note. Dec. 31, 2022 Accrued interest on all notes receivable. Apr. 1, 2023 Received principal plus interest on the Goodwin note. Apr. 1, 2023 Thomas Slocombe dishonored its note: Metlock expects it will eventually collect. Prepare journal entries to record the transactions, Metlock prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Credit Date 4/1/22 Account Titles and Explanation Notes Receivable Accounts Receivable 45000 4500 7/1/22 12/31/22 RE (To record interest accrued on Goodwin note) 12/31/22 - (To record interest accrued on Thomas note) 7/1/22 23000 Cash 23000 12/31/22 : Interest Receivable 2025 Interest Revenue 2025 (To record interest accrued on Goodwin note) Interest Receivable 12/31/22 Interest Revenue (To record interest accrued on Thomas note) Clash 4/1/23 Notes Receivable 45000 Interest Receivable 2025 Interest Revenue 1350 (To record collection of Goodwin note and interest) 4/1/23 - Accounts Receivable Notes Receivable 23000 Interest Receivable 1380 Interest Revenue 345 (To record the dishonor of Thomas note)

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