Nova Corparation hired a new product manager and agreed to provide her a $ 20,000 relocation loan on a six month, 7 percent note. Prepare a journal entry to record the following transactions for nova corporation. Rather than use letters to reference each transactions, use the date of the transaction.
A) the company loans the money on january 1 2013
B) The new employee pays Nova the full principal and interest on its maturity date.