Remington Company had the following select transactions.

Apr. 1, 2019 Accepted Carter Company's 1-year, 8% note in settlement of a 30,000 account receivable.

July 1, 2019 Loaned 18,000 cash to David Pratt on a 9-month, 10% note.

Dec. 31, 2019 Accrued interest on all notes receivable.

Apr. 1, 2020 Received principal plus interest on the Carter note.

Apr. 1, 2020 David Pratt dishonored its note: Remington expects it will eventually collect.

Instructions

Prepare journal entries to record the transactions. Remington prepares adjusting entries once a year on December 31.