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Needing help on homework. Please write each step so I can see why I am getting these problems wrong as I tried a few times
Needing help on homework. Please write each step so I can see why I am getting these problems wrong as I tried a few times with no success. therefore asking a tutor. Thank you in advance!
Apr. | 1, | 2020 | Accepted Goodwin Companys 12-month, 10% note in settlement of a $46,400 account receivable. | |
July | 1, | 2020 | Loaned $48,400 cash to Thomas Slocombe on a 9-month, 8% 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; Tamarisk expects it will eventually collect. |
DATE 4/1/21
cash?
Notes payable - credit 46400
interest receivable?
Interest rev - credit 1160
DATE 4/1/21
Account receivable ?
notes receivable - 48400
Interest receivable ?
Interest revenue?
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