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 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