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solve The tollowing transactions took place for Smart Solutions incorporated. a. July I Loaned $61,000 to employees of the company and received back one-year, 9
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The tollowing transactions took place for Smart Solutions incorporated. a. July I Loaned $61,000 to employees of the company and received back one-year, 9 percent notes. b. December 31 Accrued interest on the notes. 2021 c. July 1 Received interest on the notes. (No intereat has been recorded since Decerber 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.) Journal entry worksheet Loaned $61,000 to employees of the company and recelved back one-year, 9 percent notes. Record the transaction. Note: Enter debits before credits Step by Step Solution
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