Register
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
81.2k views
3 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 Csteinmueller
by
8.1k points

1 Answer

6 votes

Answer:

b

Step-by-step explanation:

because that's the true answer

User Sajad Abdollahi
by
8.0k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

Who was Adam Smith ? Anybody?
What can turn igneous rock into sediment?
In what way did the GI Bill contribute to the growth of professional and white-collar jobs ? A.by providing US laborers with new job-training programs B.by giving US veterans assistance to purchase a new
What is meant by data mining ?
What is the best way to describe a stock market?
Link Copied!