View Policies Current Attempt in Progress On December 31, 2020, Buffalo Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Buffalo Co. agreed to accept a $264,600 zero-interest-bearing note due December 31, 2022, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 12%. Buffalo is much more creditworthy and has various lines of credit at 6%. Click here to view factor table. (a) Prepare the journal entry to record the transaction of December 31, 2020, for the Buffalo Co. (Round present value factor calculations to 5 decimal places, eg. 1.25124 and final answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (b) Date Account Titles and Explanation Dec. 31, 2020 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer Assuming Buffalo Co's fiscal year-end is December 31, prepare the journal entry for December 31, 2021. (Round answers to 0 decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (c) Date Account Titles and Explanation Dec. 31. 2021 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer Assuming Buffalo Co's fiscal year-end is December 31, prepare the journal entry for December 31, 2022. (If no entry is required. select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 31, 2022 (To record interest revenue) (To record collection of note) eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 3 used Submit Answer