The following transactions took place for Parkers Grocery. a. January 1...
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Accounting
The following transactions took place for Parkers Grocery.
a January Loaned $ to cashiers of the company and received back oneyear, percent notes.
b June Accrued interest on the notes.
c December Received interest on the notes. No interest has been recorded since June
d December Received principal on the notes.
Required:
Prepare the journal entries that Parker's Grocery would record for the above transactions. If no entry is required for a transactionevent select No Journal Entry Required" in the first account field.
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