Vandiver company had the following select transactions:
1. april 1, 2017 accepted goodw...
Business, 06.11.2019 05:31 nicpinela1234
Vandiver company had the following select transactions:
1. april 1, 2017 accepted goodwin company's 12-month, 10% note in settlement of a $30,400 account receivable
2.july 1, 2017 loaned $32,400 cash to thomas slocombe on a 9-month, 8% note.
3. dec. 31, 2017 accrued interest on all notes receivable.
4.apr. 1, 2018 received principal plus interest on the goodwin note.
5. apr. 1, 2018 thomas slocombe dishonored its note; vandiver expects it will eventually collect
required:
prepare journal entries to record the transactions. vandiver prepares adjusting entries once a year on december 31
Answers: 3
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