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The incorrect ones are in red. Vandiver Company had the following select transactions. Apr. 1, 2014 Accepted Goodwin Company's 12-month, 10% note in settlement of

The incorrect ones are in red.

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Vandiver Company had the following select transactions. Apr. 1, 2014 Accepted Goodwin Company's 12-month, 10% note in settlement of a $94,600 account recei July 1, 2014 Loaned $96,600 cash to Thomas Slocombe on a 9-month, 8% note. Dec. 31, 2014 Accrued interest on all notes receivable. Apr. 1, 2015 Received principal plus interest on the Goodwin note. Apr. 1, 2015 Thomas Slocombe dishonored its note; Vandiver expects it will eventually collect. Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a year on Decemb is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 4/1/2015 INotes Receivable 194600 X acco 194600 7/1/2015 X Notes Payable 196600 Tcash 96600) 12/31/2015 [Interest Receivable [7095 Interest Revenue 7095 (To record interest at 10%) Interest Receivable) 73864 Interest Revenue 13864 (To record interest at 8%) 4/1/2016 TCash x 104848 [Interest Receivable) T7095 [Interest Revenue) X 3153 M Notes Receivable 194600 (To record collection and interest) Accounts Receivable X 103040 Interest Receivable 3864 Interest Revenue) 2576 Notes Receivable 96600 (To record the dishonour)

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