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The following transactions took place for Smart Solutions Inc. 2017. a. July 1 Loaned $64,000 to an employee of the company and received back a one-year, 9 percent note. b. Dec. 31 Accrued interest on
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29 votes
The following transactions took place for Smart Solutions Inc. 2017.

a. July 1 Loaned $64,000 to an employee of the company and received back a one-year, 9 percent note.
b. Dec. 31 Accrued interest on the note. 2018.
c. July 1 Received interest on the note. (No interest has been recorded since December 31.)
d. July 1 Received principal on the note.

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

User ShadowGod
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1 Answer

19 votes
19 votes

Answer:

b

Step-by-step explanation:

because that's the true answer

User Will Neithan
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