On

JuneJune

6,

SouthsideSouthside

Bank & Trust lent

$ 90 comma 000$90,000

to

Steve StoneSteve Stone

on a

6060-day,

66%

note.

Requirements

1.	Journalize for SouthsideSouthside the lending of the money on JuneJune 6.
2.	Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar.

Requirement 1. Journalize for

SouthsideSouthside

the lending of the money on

JuneJune

6. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

Date		Accounts and Explanation	Debit	Credit
Jun.	6	Note ReceivableSteve Stone	90,000
		Cash		90,000
		Lent money to Steve Stone.

Requirement 2. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. For notes stated in days, use a

365365-day

year.)