E8-10 Recording Note Receivable Transactions, Including Accrual Adjustment for Interest (LO 8-3) The following transactions took place for Smart Solutions Inc. 2017 a. July 1 Loaned $69,000 to an employee of the company and received back a one-year, 8 percent note. b. Dec. 31 Accrued interest on the note. 2018 c. July 1 Received interest on the note. (No interest has been recorded since December 31.) d. July 1 Received principal on the note. Required: Prepare the journal entries that Smart Solutions Inc. would record for the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list es 1 Record the receipt of a note on July 1, 2017 for a $69,000 loan to an employee. 2 Record the interest accrued on the note as of December 31, 2017. 3 Record the receipt of the interest on the note's maturity date. No interest has been recorded since December 31, 2018. Credit 4 Record the receipt of the payment for the full principal. Note: = journal entry has been entered Record entry Clear entry View general journal