The following transactions took place for Smart Solutions Inc. 2017 a. July 1 loaned $70,000 to an employee of the company and received back a one-year, 10 percent note. b. Dec. 31 Accrued interest on the note. 2018 c. July 1 Received interest on the note. (No interest has been recorded since December 31.) d. July 1 Received principal on the note. Required: Prepare the journal entries that Smart Solutions Inc. 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 Record the receipt of a note on July 1, 2017 for a $70,000 loan to an employee. Note: Enter debits before credits. Date General Journal Debit Credit Jul 01. 2017 Record entry Clear entry View general journal