Chech E8-10 Recording Note Receivable Transactions, including Accrual Adjustment for Interest [LO 8-3] The following transactions took place for Smart Solutions Inc. 2017 . July 1 Loaned $84,000 to an employee of the company and received back a one-year, 9 percent note. . Dec. 31 Accrued interest on the note. 2018 . July 1 Received interest on the note. (No interest has been recorded since December 31.) #. July 1 Received principal on the note. Fequired: "repare the journal entries that Smart Solutions Inc. would record for the above transactions. (If no entry is required for a ransaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet