E8-10 Recording Note Receivable Transactions, Including Accrual Adjustment for Interest [LO 8-3] The following transactions took place for Smart Solutions Inc. 2014 Loaned $72,000 to an employee of the company and received back a one-year, 8 percent note Accrued interest on the note a. July 1 b. Dec. 31 2015 c. July 1 d. July 1 Received interest on the note. (No interest has been recorded since December 31.) 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 Journal entry worksheet 4 Record the receipt of a note on July 1, 2014 for a $72,000 loan to an employee Note: Enter debits before credits Date General Journal Debit Credit Jul 01, 2014 Record entry Clear entry View general journal