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.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 05:50, Haddixhouse8948

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Answers: 2

continue

Business, 23.06.2019 01:00, claudr03

Sarah is an accountant with desires to open her own business. she is looking for office space at a reasonable rate along with internet service. of the conditions that need to be put in place for the entrepreneurial ecosystem, she needs

Answers: 1

continue

Business, 23.06.2019 06:00, jenstets05

For each example, identify the most appropriate ctso. marilyn is a middle-school student who wants to prepare for a career in farming: pasnational ffanyfeafeajanice is a high-school student who wants to start her own business: skillsusatsapasdecaabe is a high-school student who wants to become an information technology worker: hosafcclabpanyfearene wants to teach middle-school classes: feafccladecahosa

Answers: 1

continue

Business, 23.06.2019 07:50, catherineguyen3216

Suppose that two countries, britain and the u. s. produce just one good - beef. suppose that the price of beef in the u. s. is $2.80 per pound, and in britain it is £3.70 per pound. according to ppp theory, what should the $/£ spot exchange rate be? suppose the price of beef is expected to rise to $3.10 in the u. s. and to £4.65 in britain. what should be the one year forward $/£ exchange rate?

Answers: 1

continue

You know the right answer?

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