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Sheridan Company had the following selected transactions. Apr. 1, 2022 July 1, 2022 Dec. 31, 2022 Apr. 1, 2023 Apr. 1, 2023 Accepted Goodwin Company's
Sheridan Company had the following selected 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. Received 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
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