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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

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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 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 4/1/20 Notes Receivable 93.600 Accounts Receivable 93.600 7/1/20 Notes Receivable 12/31/20 Interest Receivable Interest Revenue (To record interst on Goodwin Co note.) 12/31/20 : Interest Receivable Interest Revenue (To record interest on Slocombe note.) 4/1/21 cash 106704 Interest Receivable 9828 Interest Revenue 3276 Notes Receivable 93600 (To record collection of Goodwin Note.) 4/1/21 Accounts Receivable Notes Receivable 95600 Interest Receivable Interest Revenue 2868 (To record note dishonored.)

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