X Student Portal O WileyPLUS lugen.wileyplus.com/edugen/Iti/main.uni US Kieso, Intermediate Accounting, 17e Help | System Announcements CES CALCULATOR PRINTER VERSION Exercise 7-14 (Part Level Submission) BACK NE On December 31, 2020, Flint Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Flint Co. agreed to accept a $318,100 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 11%. Flint is much more creditworthy and has various lines of credit at 5%. (a) Your answer is correct. Prepare the journal entry to record the transaction of December 31, 2020, for the Rlint Co. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final 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 Titles and Explanation Debit Credit Dec. 31, 2020 TNotes Receivable 318100 udy 59923 Discount on Notes RecE 258177 Service Revenue SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Attempts: 2 of 5 used ent Portal O WileyPLUS en.wileyplus.com/edugen/Iti/main.uni US Kieso, Intermediate Accounting, 17e Help | System Announcements CALCULATOR PRINTER VERSION 1 BACK NEXT LINK TO TEXT LINK TO TEXT Attempts: 2 of 5 used (b) Assuming Flint Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2021. (Round 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 Titles and Explanation Debit A Credit Dec. 31, 2021 V. SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Attempts: 0 of 5 used SAVE FOR LATER SUBHIT ANSWER > (c) The parts of this question must be completed in order. This part will be available when you complete the part above. 1:43 PM 4/5/2020 e to search w**