Prepare the required journal entries

Reference no: EM133662457

Question: Nov. 1 - Loaned $10,000 to an employee, who signed a 90-day, 10% note. Interest and principal are due on Jan 31. Dec. 31 - Accrued interest on the note. (Round to the nearest whole dollar amount.) Jan. 31 - Received the interest on the note's maturity date. Jan. 31 - Received the principal on the note's maturity date. (Round to the nearest whole dollar amount.)

Required: Prepare the required journal entries.

Reference no: EM133662457

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