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On December 31, 2025, Skysong Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Skysong Co. agreed to accept
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%
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Financial Reporting Financial Statement Analysis and Valuation
Authors: Clyde P. Stickney
6th edition
324302959, 978-0324302967, 324302967, 978-0324302950
