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Sage Hill Company had the following select transactions. Apr. 1,2025 Accepted Goodwin Company's 12-month, 6% note in settlement of a $45,000 account receivab July 1,2025

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Sage Hill Company had the following select transactions. Apr. 1,2025 Accepted Goodwin Company's 12-month, 6% note in settlement of a $45,000 account receivab July 1,2025 Loaned $17,000 cash to Thomas Slocombe on a 9-month, 12% note. Dec. 31, 2025 Accrued interest on all notes receivable. Apr. 1,2026 Received principal plus interest on the Goodwin note. Apr. 1,2026 Thomas Slocombe dishonored its note; Sage Hill expects it will eventually collect. Prepare joumal entries to record the transactions. Sage Hill prepares adjusting entries once a year on December 31 . (Ulst ofl deblit

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