On December $31,2025,$ Skysong Co$.$ performed environmental consulting services for Hayduke Co$.$ Hayduke was short of cash, and

Skysong Co$.$ agreed to accept a $$322,700$ zero$-$interest$-$bearing note due December $31,2027,$ as payment in full. Hayduke is

somewhat of a credit risk and typically borrows funds at a rate of $10\%.$ Skysong is much more creditworthy and has various lines of

credit at $6\%.$

$($a$)$

Your Answer

Prepare the journal entry to record the transaction of December $31,2025,$ for the Skysong Co$.($Round present value factor

calculations to $5$ decimal places, eg$.1\mathrm{.}25124$ and final answers to $0$ decimal places, eg $5\mathrm{.}275.$ If no entry is required, select $"$No Entry" for

the account titles and enter O for the amounts. Credit account titles are autornatically indented when the amount is entered. Do not indent

manually List all debit entries before credit entries.$)$

Date Account Titles and Explanation

Debit

Credit

Dec. $31,$

$2025$

Service Revenue

Discount on Notes Recelvable

$($b$)$

Assuming Skysong Co's fiscalyear$-$end is December $31,$ prepare the journal entry for December $31,2026.($Round answers to $0$

decimol places, es$.5.275.$ if no entry is requined, select $"$No Entry" for the account titles and enter O for the amounts. Credit account bitles

are automatically inderted when the anount is entered. Do nat indent manualiy. List debit entry before credit entry$)$

eTextbook and Media

List of Accounts

Attempts: $0$ of $3$ used

$($c$)$