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E8-11 Recording Note Receivable Transactions, Including Accrual Adjustment for Interest [LC The following transactions took...

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E8-11 Recording Note Receivable Transactions, Including Accrual Adjustment for Interest [LC The following transactions took place for Parker's Grocery a. Jan. 1 Loaned 48,000 to a cashier of the company and received back a one-year, 8 percent note. b. June 30 Accrued interest on the note. c. Dec. 31 Received interest on the note. (No interest has been recorded since June 30.) d. Dec. 31 Received principal on the note. Required: Prepare the journal entries that Parker's Grocery would record for the above transactions. (If no entry is required fora transaction/event, select "No Journal Entry Required" in the first account field. cos View transaction list View journal entry worksheet No Date General Journal Debit Credit 1 Jan 01Notes Receivable 48,000 Cash 48,000 2 Jun 30 Interest Receivable Interest Revenue 3 Dec 31 Cash Interest Revenue Interest Receivable 48,000 /4Dec 31 Cash

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