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The following transactions took place for Parkell's Grocery. Jan. 1 Loaned $66,000 to a company cashier and received back a one-year, 9 percent note. June
The following transactions took place for Parkell's Grocery. Jan. 1 Loaned $66,000 to a company cashier and received back a one-year, 9 percent note. June 30 Accrued interest on the note. Received interest and principal on the note. (No interest has been recorded since June Dec. 31 30.) Required: Prepare the journal entries that Parkell's Grocery 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 1 Record the issuance of loan. > N Record the accrued interest on the note. 3 Record the interest received on the loan. 4 Record the principal received on the loan. Credit Note : = journal entry has been entered Record entry Clear entry View general journal
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