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please and thank you! The following transactions took place for Smart Solutions Ltd. 2009 July 1 Loaned $15,000 to an employee of the company and
please and thank you!
The following transactions took place for Smart Solutions Ltd. 2009 July 1 Loaned $15,000 to an employee of the company and received back a one-year, 10.4 percent note. Dec. 31 Accrued interest on the note. 2010 July 1 Received interest and principal on the note. (No interest has been recorded since December 31.) Required: Prepare the journal entries that Smart Solutions Ltd. would record for the above transactions. (Round all final answers to the nearest dollar amount. Omit the "$" sign In your response.) General Journal Debit Date July 1,2009 Credit Notes receivable Cash Dec. 31,2009 Interest receivable Interest revenue July 1, 2010 Cash Interest revenue UUUU VU 2010 July 1 Received interest and principal on the note. (No interest has been recorded since December 31.) Required: Prepare the journal entries that Smart Solutions Ltd. would record for the above transactions. (Round all final answers to the nearest dollar amount. Omit the "S" sign In your response.) General Journal Debit Credit Date July 1,2009 Notes receivable Cash Dec. 31,2009 Interest receivable Interest revenue July 1,2010 Cash Interest revenue Cash Cash Notes receivable Step by Step Solution
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