Exercise 7-14 On December 31, 2015, Carla Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Carla Co. agreed to accept a $340,000 zero-interest-bearing note due December 31, 2017, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 124 Carta is much more creditworthy and has various lines of credit at 6 Your answer is correct Prepare the journal entry to record the transaction of December 31, 2015, for the Carta Co. (Round present walue factor calculation to decimal places 1.25124 and finalm ers to O decimal places, ... 275. I ne entry is required, select "No Entry for the account title and enter for the amounts Credit account s are automatically indented when the amount is entered. Do not indent manually.) Date Account Tities and Explanation Dec 31, 2015 Trots Receivable Discount on Notes Receiva Service Revenue CALCULATOR Your answer is correct. Assuming Carla Co.'s fiscal year-end Is December 31, prepare the journal entry for December 31, 2016. (Round answers to decimal places, e.. Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered Date Account Titles and explanation Debit Credit Dec. 31, 2016 Discount on Notes Receivable 32,525 Interest Revenue N T 32,525 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Assuming Carla Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2017. (If no entry is required, select "No Entry" amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Date Account Titles and Explanation Dec 31, 2017 Discount on Notes Receivable - - 36,427.6 T 136,427.6 I Interest Revenue Your answer is partially correct. Try again. Assuming Carla Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2017. (If no entry is regt amounts. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. Study Date Account Titles and Explanation Dec 31, 2017 Discount on Notes Receivable 36,427.6 Interest Revenue (To record interest revenue) Cash 338,600 Interest Receivable 338,600 (To record collection of note)