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AP Vandiver Company had the following select transactions. Prepare entries for notes receivable transactions. Apr. 1, 2022 Accepted Goodwin Company's 12-month, 6% note in settlement of a $30,000 account receivable. July 1, 2022 Loaned $25,000 cash to Thomas Slocombe on a 9-month, 10% note. 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; Vandiver expects it will eventually collect. Instructions Prepare journal entries to record the transactions. Vandiver prepares adjusting entries once a year on December 31.
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