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Question 2 .Morton Company had the following select transactions Apr. 1, 2020 Accepted Remington Company's 1-year, 12% note in settlement of a $25,000 account receivable

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Question 2 .Morton Company had the following select transactions Apr. 1, 2020 Accepted Remington Company's 1-year, 12% note in settlement of a $25,000 account receivable July 1, 2020 Loaned $15,000 cash to Jenny Green on a 9-month, .10% note .Dec. 31, 2020 Accrued interest on all notes receivable Apr. 1, 2021 Received principal plus interest on the Remington .note Apr. 1, 2021 Jenny Green dishonored its note: Morton does not expect collection Instructions Prepare journal entries to record the transactions. Morton prepares adjusting entries once a year on December 31

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