The following transactions tock place for Smart Solutions Inc. 2014 a. July 1 Loaned $71,000...
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The following transactions tock place for Smart Solutions Inc. 2014 a. July 1 Loaned $71,000 to an employee of the company and received back a one-year, 9 percent b. Dec. 31 Accrued interest on the note. c July 1 Received interest on the note. (No interest has been recorded since December 31.) note. 2015 Required: Prepare the jounal entries that Smart Solutions Inc. would record for the above transactions. (If no entry is required for a transactionlevent, 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, 2014 for a $71,000 loan to an employee Note: Enter debits before credits. Date General Journal Debit Credit Jul 01, 2014
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