2% per quarter, Problem II-Notes Receivable (20 points) On December 31, 2017, Arden Corporation rendered services to Fly Company, accepting $40,000 immediate cash and agreeing to accept the balance in four equal installments of $20,000 receivable each December 31. Instructions Make all appropriate entries that would be recorded by Arden Corporation for the transaction and for the receipts and interest. Assume that the effective interest method is used and the interest rate is 10%