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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

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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 1000 Accounts Receivable 45000 7/1/22 Cash 12/31/22 Interest Red Interest Reven (To record interest accrued on Goodwin note) (To record interest accrued on Goodwin note) Interest Receivable 12/31/22 1380 1380 4/1/23 9 47700 15000 Interest Revenue (To record interest accrued on Thomas note) Cash Notes Receivable Interest Receivable Interest Revenue (To record collection of Goodwin note and interest) Accounts Receivable 4/1/23 Notes Receivable Interest Receivable Interest Revenue (To record the dishonor of Thomas note)

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