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Teal Mountain Company had the following select transactions. Apr. 1,2022 Accepted Goodwin Company's 12-month, 8% note in settlement of a $39,000 account receivable. July 1,2022
Teal Mountain Company had the following select transactions. Apr. 1,2022 Accepted Goodwin Company's 12-month, 8% note in settlement of a $39,000 account receivable. July 1,2022 Loaned $19,000 cash to Thomas Slocombe on a 9-month, 10% note. Dec. 31,2022 Accrued interest on all notes receivable. Apr. 1,2023 Recelved principal plus interest on the Goodwin note. Apr. 1,2023 Thomas Slocombe dishonored its note; Teal Mountain expects it will eventually collect
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