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The following transactions took place for Parkers Grocery.

a.	Jan. 1	Loaned $43,000 to a cashier of the company and received back a one-year, 9 percent note.
b.	June 30	Accrued interest on the note.
c.	Dec. 31	Received interest on the note. (No interest has been recorded since June 30.)
d.	Dec. 31	Received principal on the note.

Required:

Prepare the journal entries that Parker'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.)

a) Record the receipt of a note on January 1 for a $43,000 loan to an employee. Date General Journal Debit Credit Jan01 b) Record the interest accured on the note as of June 30. Date General Journal Deit Credit Jun 30 c) Record the receipt of the interest on the notes maturity date. No interest has been recorded since June 30. Date General Journal Debit Credit Dec.31 D. Record the receipt of the payment for the full principal. Date General Journal Debit Credit Dec.31 Part 2 ShipIt Corporation reported the following rounded amounts (in millions): May 31 2013 2012 Accounts Receivable $ 5,395 $ 5,100 Allowance for Doubtful Accounts (285) (290) Accounts Receivable, Net of Allowance $ 5,110 $ 4,810 Net Sales (assume all on credit) $ 39,000 $ 37,200 Required: 1. Determine the receivables turnover ratio and days to collect for 2013. (Use 365 days in a year. Do not round your intermediate calculations. Round your answers to 1 decimal place.) Receivable Turnover Ratio ??????????? Times Days to Collect ??????????? Days

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