Nova Corporation hired a new product manager and agreed to provide her a $23,000 relocation...
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Nova Corporation hired a new product manager and agreed to provide her a $23,000 relocation loan on a six-month, 8 percent note. a. The company loans the money on January 1. b. The new employee pays Nova the interest owed on the maturity date. c. The new employee pays Nova the full principal owed on the maturity date. Prepare journal entries to record the above transactions for Nova Corporation. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the receipt of a note on July 1, 2017 for a $62,000 loan to an employee. Note: Enter debits before credits. Date General Journal Debit Credit Jul 01, 2017 Record entry Clear entry View general journal
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