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2020. a. July 1 Loaned $68,000 to employees of the company and received back one-year, 10 percent notes. b. December 31 Accrued interest on

2020. a. July 1 Loaned $68,000 to employees of the company and received back one-year, 10 percent notes. b. December 31 Accrued interest on the notes. 2021 c. July 1 d. July 1 Received interest on the notes. (No interest has been recorded since December 31.) Received principal on the notes.

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