Business, 23.10.2021 03:10 sarahcn9876

The following transactions took place for Smart Solutions Incorporated. 2020 a. July 1 Loaned $63,000 to employees of the company and received back one-year, 10 percent notes.
b. December 31 Accrued interest on the notes. 2021
c. July 1 Received interest on the notes. (No interest has been recorded since December 31.)
d. July 1 Received principal on the notes.

Required:
Prepare the journal entries that Smart Solutions Inc. would record for the above transactions.

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The following transactions took place for Smart Solutions Incorporated. 2020 a. July 1 Loaned $63,...

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