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Monty Company had the following select transactions. Apr 1, 2020 Accepted Goodwin Company's 12-month, 14% note in settlement of a $93.600 account receivable. July 1,

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Monty Company had the following select transactions. Apr 1, 2020 Accepted Goodwin Company's 12-month, 14% note in settlement of a $93.600 account receivable. July 1, 2020 Loaned $95,600 cash to Thomas Slocombe on a 9-month, 12% 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: Monty expects it will eventually collect Prepare journal entries to record the transactions, Monty prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented w manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 4/1/20 Notes Receivable 93,600 Accounts Receivable 93,600 7/1/20 Notes Receivable | Cash 12/31/20 = Interest Receivable Interest Revenue (To record interst on Goodwin Co note.) Interest Receivable 12/31/20 Interest Revenue (To record interest on Slocombe note.) 4/1/21 cash Interest Receivable Interest Revenue Notes Receivable (To record collection of Goodwin Note.) 4/1/21 Accounts Receivable Notes Receivable Interest Receivable Interest Revenue (To record note dishonored.)

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