By December 31, 2013, Clearing Corp. had performed a significant amount of environmental consulting services for Rank limited. Rank was short of cash, and clearing agreed to accept a $200,000, non-interest bearing note due december 31, 2015, as payment in full. Rank is a bit of credit risk and typically borrows funds at a rate of 12%. Clearing is much more creditworthy and has various of credit at 9%. a) prepare the journal entry to recerd the transaction on Dec. 31, 2013, for Cleaning Corp. b) assuming Clearing Fiscal year end is Dec. 31, prepare the journal entry required at Dec. 31, 2014. c) Assuming Clearing Fiscal year end is dec. 31, prepare the journal entry required at Dec.31, 2015. d) What are the amount and classification of the note on Clearing Corps. satement of financial posotion as at Dec. 31, 2014? e) If an appropriate market rate of interst for the note receivable is not known, how should the transaction be valued and recorded on Dec. 31 , 2013?