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The following transactions took place for Parker's Grocery. a. January 1 Loaned $50,000 to eanhiers of the company and received back one-year, 8 percent notes.

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The following transactions took place for Parker's Grocery. a. January 1 Loaned $50,000 to eanhiers of the company and received back one-year, 8 percent notes. b. June 30 Acerued interest on the notes. c. December 31 Received interest on the notes. (No interest has been recorded since June 30.) d. December 31 Received principal on the notes. Required: Prepare the journal entries Parker's Grocery would record for the above transactions. (If no entry is required for a transaction/ever select "No Journal Entry Required" in the first account field.)

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