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Splish Brothers Company had the following select transactions. Apr. 1.2022 Accepted Goodwin Company's 12-month, 6% note in settlement of a $41,000 account receivable. Loaned $22,000
Splish Brothers Company had the following select transactions. Apr. 1.2022 Accepted Goodwin Company's 12-month, 6% note in settlement of a $41,000 account receivable. Loaned $22,000 cash to Thomas Slocombe on a 9-month, 11% note. July 1.2022 Accrued interest on all notes receivable. 31. Dec 2022 Apr. 1.2023 Received principal plus interest on the Goodwin note. Thomas Slocombe dishonored its note; Splish Brothers expects it will eventually collect. Apr. 1, 2023 Splish Brothers Company had the following select transactions. Apr. 1.2022 Accepted Goodwin Company's 12-month, 6% note in settlement of a $41,000 account receivable. Loaned $22,000 cash to Thomas Slocombe on a 9-month, 11% note. July 1.2022 Accrued interest on all notes receivable. 31. Dec 2022 Apr. 1.2023 Received principal plus interest on the Goodwin note. Thomas Slocombe dishonored its note; Splish Brothers expects it will eventually collect. Apr. 1, 2023
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Managerial Accounting 1
Authors: Ray H. Garrison
1st Edition
1259114457, 978-1259114458
