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Windsor Company had the following select transactions. Apr. 1,2025 Accepted Goodwin Company's 12-month, 6% note in settlement of a $42.000 account receivable Loaned $17,000 cash to Thomas Slocombe on a 9-month, 12% note. July 1,2025 Dec 31, 2025 Accrued interest on all notes receivable. Apr. 1,2026 Received principal plus interest on the Goodwin note. Apr. 1.2026 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. (List all debit entries before credit entries. Credit occount titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Notes Receivable Date 4/1/25 7/1/25 V 12/31/25 Accounts Receivable Notes Receivable Cash Interest Receivable Debit 42000 17000 1890 Credit 42000 17000

Windsor Company had the following select transactions. Apr. 1,2025 Accepted Goodwin Company's 12-month, 6% note in settlement of a $42.000 account receivable Loaned $17,000 cash to Thomas Slocombe on a 9-month, 12% note. July 1,2025 Dec 31, 2025 Accrued interest on all notes receivable. Apr. 1,2026 Received principal plus interest on the Goodwin note. Apr. 1.2026 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. (List all debit entries before credit entries. Credit occount titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Notes Receivable Date 4/1/25 7/1/25 V 12/31/25 Accounts Receivable Notes Receivable Cash Interest Receivable Debit 42000 17000 1890 Credit 42000 17000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Windsor Company had the following select transactions Apr. 1,2025 July 1,2025 Dec 31, 2025 Apr. 1,2026 1,2026 Date Prepare journal entries to record the transactions. Windsor prepares adjusting entries once a year on December 31. (List all debit entries before credit entries. 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. If no entry is required, select "No Entry" for the account titles and enter o for the amounts) Account Titles and Explanation Notes Receivable 4/1/25 7/1/25 Accepted Goodwin Company's 12-month, 6% note in settlement of a $42.000 account receivable Loaned $17,000 cash to Thomas Slocombe on a 9-month, 12% note. Accrued interest on all notes receivable. 12/31/25 Received principal plus interest on the Goodwin note. Thomas Siocombe dishonored its note: Windsor expects it will eventually collect. Accounts Receivable V Notes Receivable Cash Interest Receivable Debit 42000 17000 1890 Credit 42000 17000
Transcribed Image Text:Windsor Company had the following select transactions Apr. 1,2025 July 1,2025 Dec 31, 2025 Apr. 1,2026 1,2026 Date Prepare journal entries to record the transactions. Windsor prepares adjusting entries once a year on December 31. (List all debit entries before credit entries. 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. If no entry is required, select "No Entry" for the account titles and enter o for the amounts) Account Titles and Explanation Notes Receivable 4/1/25 7/1/25 Accepted Goodwin Company's 12-month, 6% note in settlement of a $42.000 account receivable Loaned $17,000 cash to Thomas Slocombe on a 9-month, 12% note. Accrued interest on all notes receivable. 12/31/25 Received principal plus interest on the Goodwin note. Thomas Siocombe dishonored its note: Windsor expects it will eventually collect. Accounts Receivable V Notes Receivable Cash Interest Receivable Debit 42000 17000 1890 Credit 42000 17000
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