The following transactions took place for Parkel's Grocery. Jan. 1 Loaned $30,000 to a company...
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The following transactions took place for Parkel's Grocery. Jan. 1 Loaned $30,000 to a company cashier and received back a one-year, 5 percent note. June 30 Accrued interest on the note. Dec. 31 Received interest and principal on the note. (no interest has been recorded since June 30.) Required: Prepare the journal entries that Parkell's Grocery 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 View journal entry worksheet FREE No General Journal Debit Credit 1 Date January 01 Notes receivable Cash 30,000 30,000 2 June 30 Interest receivable Interest revenue 3 December 31 Cash Interest receivable 4 December 31 Cash Notes receivable 30,000 30,000
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