Question
Splish Brothers Company had the following select transactions. Apr. 1, 2022 Accepted Goodwin Companys 12-month, 6% note in settlement of a $30,000 account receivable. July
Splish Brothers Company had the following select transactions. Apr. 1, 2022 Accepted Goodwin Companys 12-month, 6% note in settlement of a $30,000 account receivable. July 1, 2022 Loaned $25,000 cash to Thomas Slocombe on a 9-month, 10% note. Dec. 31, 2022 Accrued interest on all notes receivable. Apr. 1, 2023 Received principal plus interest on the Goodwin note. Apr. 1, 2023 Thomas Slocombe dishonored its note; Splish Brothers expects it will eventually collect.
Accounts receivable, interest receivable and interest revenue for 4/1/23 to record dishonor of thomas note?
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