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Question 7 of 9 < > View Policies -13 Current Attempt in Progress Metlock Company had the following select transactions. Accepted Goodwin Company's 12-month,
Question 7 of 9 < > View Policies -13 Current Attempt in Progress Metlock Company had the following select transactions. Accepted Goodwin Company's 12-month, 7% note in settlement of a $30,000 account receivable. Loaned $15,000 cash to Thomas Slocombe on a 9-month, 10% note. Apr. 1, 2022 July 1, 2022 Dec. 31, 2022 Accrued interest on all notes receivable. Apr. 1, 2023 Received principal plus interest on the Goodwin note. Apr. 1, 2023 Thomas Slocombe dishonored its note; Metlock expects it will eventually collect. Prepare journal entries to record the transactions. Metlock prepares adjusting entries once a year on December 31. (Credit acce titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the orde presented in the problem.) Date Account Titles and Explanation 4/1/22 Notes Receivable Accounts Receivable 7/1/22 Notes Receivable Cash Debit 30000 15000 Credit 30000 15000
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