Record for the above transactions

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Reference no: EM13753913

The following transactions took place for Parker’s Grocery and Prepare the journal entries that Parker's Grocery would record for the above transactions.

Jan. 1 loaned $84,000 to a cashier of the company and received back a one-year, 10 percent note.

June 30 accrued interest on the note.

Dec. 31 received interest and principal on the note. (No interest has been recorded since June 30.)

Reference no: EM13753913

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