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The following transactions took place for Christoff Solutions Ltd. 2019 July 1 Loaned $110,000 to an employee of the company and received back a
The following transactions took place for Christoff Solutions Ltd. 2019 July 1 Loaned $110,000 to an employee of the company and received back a one-year, 10 percent note. Dec. 31 2020 Accrued interest on the note. July 1 Received interest and principal on the note. (No interest has been recorded since December 31.) Required: Prepare the journal entries that Christoff Solutions Ltd. 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 Journal entry worksheet < 1 2 3 4 Record the issuance of loan. Note: Enter debits before credits. Date Jul 01, 2019 General Journal Debit Credit Record entry Clear entry View general journal
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