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with all the steps and calculations Using Excel to Account for Notes Receivable PROBLEM On December 31, 2025, Ed Abbey Co. performed environmental consulting services
with all the steps and calculations
Using Excel to Account for Notes Receivable PROBLEM On December 31, 2025, Ed Abbey Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Abbey Co. agreed to accept a zero-interest-bearing note due December 31,2027 , as payment in full. Hayduke is somewhat of a credit risk. Abbey is much more creditworthy and has various lines of credit. Face amount of note accepted by Abbey Hayduke's typical borrowing rate Abbey's credit line rates $5200,00010% Term of note in years Requlred: Provide input into cells shaded in yellow in this template. Input the required mathematical formulas or functions with cell references to the Problem area or work area as indicated. a. rrepare tne joumal entry to record the transaction of December 31, 2025, for the Ed Abbey Co. List credit accounts in alphabetical order. D. Assuming Ed Abbey Co.'s fiscal year-end is December 31, prepare the journal entry for December 31,2026 c. Assuming Ed Abbey Co.'s fiscal year-end is December 31, prepare the journal entries for December 31,2027 Step by Step Solution
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