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Sheridan Company had the following select transactions. Apr. 1, 2022 July 1, 2022 Dec. 31, 2022 Apr. 1, 2023 Apr. 1, 2023 Accepted Goodwin
Sheridan Company had the following select transactions. Apr. 1, 2022 July 1, 2022 Dec. 31, 2022 Apr. 1, 2023 Apr. 1, 2023 Accepted Goodwin Company's 12-month, 16% note in settlement of a $53,400 account receivable. Loaned $55,400 cash to Thomas Slocombe on a 9-month, 14% note. Accrued interest on all notes receivable. I Leceived principal plus interest on the Goodwin note. Thomas Slocombe dishonored its note; Sheridan expects it will eventually collect. Prepare journal entries to record the transactions. Sheridan prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 5,275.)
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1 Apr 1 2022 Sheridan Company accepted Goodwin Companys 12month 16 note in settlement of a 53400 account receivable Journal Entry Debit Notes Receivab...Get Instant Access to Expert-Tailored Solutions
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