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Stinson Company recently agreed to loan an employee $100,000 for the purchase of a new house. The loan was executed on May 31, 2021, and

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Stinson Company recently agreed to loan an employee $100,000 for the purchase of a new house. The loan was executed on May 31, 2021, and is a one-year 6 percent note, with interest payments required on November 30, 2021, and May 31, 2022 Stinson issues quarterly financial statements on March 31, June 30, September 30, and December 31 Required: Prepare journal entries to record the below transactions for Stinson Company. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 1. When the note is established. 2. To record the interest accruals at each quarter-end and Interest payments at each payment date. 3. To record the principal payment at the maturity date. Journal entry worksheet Record the interest accrued on the note as of June 30, 2021. Note: Enter debits before credits Date General Journal Debit Credit June 30, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet Record the interest accrued on the note as of December 31, 2021. Note: Enter debits before credits General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general Journal View transaction list Journal entry worksheet ^ Record the interest accrued on the note as of March 31, 2022. Note: Enter debits before credits. Date General Journal Debit Credit March 31, 2022 Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the receipt of the payment for interest for the period ending May 31, 2022. Note: Enter debits before credits. Date General Journal Debit Credit May 31, 2022 Record entry Clear entry View general journal View transaction list Journal entry worksheet

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