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On December 31, 2015, Teal Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Teal Co. agreed to acoept a $318,100 zerointerest-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 11%. Teal is much more creditworthy and has various lines of credit at 5%. Prepare the journal entry to record the transaction of December 31, 2015, for the Teal Co. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and nal answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titla and Explanation Debit Credit Dec. 31, 2015 l snow uST or ACCOUNTS l lrunx To TEXT runx To TEXT l Assuming Teal Co.'s scal year-end is December 31, prepare the journal entry for December 31, 2016. (Round answers to a decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Title and Explanation Debit Credit Dec. 31, 2016 1 l \\ssuming Teal Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2017. (If no entry is required, select "No Entry" for the account titles and enter 0 for th Imounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Amount Titles and Explanation Debit Credit Dec. 31, 2017 ' (To record Interest revenue) (To record collectlon of note)