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Windsor Company had the following select transactions. Apr 1.2022 Accepted Goodwin Company's 12-month, 7% note in settlement of a $34,000 account receivable. Loaned $21,000
Windsor Company had the following select transactions. Apr 1.2022 Accepted Goodwin Company's 12-month, 7% note in settlement of a $34,000 account receivable. Loaned $21,000 cash to Thomas Slocombe on a 9-month, 10% note. July 1,2022 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: Windsor expects it will eventually collect. Prepare journal entries to record the transactions. Windsor prepares adjusting entries once a year on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem)
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