On December 31, 2020, Sarasota Co performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Sarasota Co agreed to accept a $264,600 zero-interest-bearing note due December 31, 2022. as payment in full. Haydluke is somewhat of a credit risk and typically borrows funds at a rate of 12%. Sarasota is much more creditworthy and has various lines of credit at 6% Click here to view factor table (a) Your answer is partially correct. Prepare the journal entry to record the transaction of December 31, 2020, for the Sarasota Co. (Round present value factor calculations to 5 decimal places a 1.25124 and final answers to decimal places,5.275. no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entired. Do not indent manually Date Account Titles and Explanation Debit Credit Dec 31. 2020 Notes Recevable 264600 Service Revenue Discount on Notes Receivable