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please help im stuck on 2,3,4 2020 a. July 1 Loaned $75,000 to employees of the company and received back one-year, 8 percent notes. b.
please help im stuck on 2,3,4 2020 a. July 1 Loaned $75,000 to employees of the company and received back one-year, 8 percent notes. b. December 31 Accrued interest on the notes. 2021 c. July 1 Received interest on the notes. (No interest has been recorded since December 31.) d. July 1 Received principal on the notes. Required: Prepare the journal entries that Smart Solutions Incorporated 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 View journal entry worksheet No General Journal Date July 01, 2020 Debit Credit 1 Notes Receivable 75,000 Cash 75,000 2 December 31, 2020 Interest Receivable Interest Revenue 3 July 01, 2021 Cash Interest Receivable Interest Revenue 4 July 01, 2021 Cash Notes Receivable
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