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Novak Company had the following select transactions. Apr. 1. 2020 Accepted Goodwin Company's 12-month, 16% note in settlement of a $98,600 account receivable. Loaned $100,600

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Novak Company had the following select transactions. Apr. 1. 2020 Accepted Goodwin Company's 12-month, 16% note in settlement of a $98,600 account receivable. Loaned $100,600 cash to Thomas Slocombe on a 9-month, 14% note. July 1. 2020 Dec 31, 2020 Accrued interest on all notes receivable. Apr. 1, 2021 Received principal plus interest on the Goodwin note. Thomas Slocombe dishonored its note: Novak expects it will eventually collect. Apr 1, 2021 Prepare journal entries to record the transactions. Novak 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

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