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Shamrock Company had the following select transactions. Apr. 1, 2025 Accepted Goodwin Company's 12-month, 6% note in settlement of a $46,000 account receivable. July 1,
Shamrock Company had the following select transactions. Apr. 1, 2025 Accepted Goodwin Company's 12-month, 6% note in settlement of a $46,000 account receivable. July 1, 2025 Loaned $23,000 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; Shamrock expects it will eventually collect. (To record interest accrued on Thomas note) (To record collection of Goodwin note and interest) (To record the dishonor of Thomas note)
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