1 2 A B C D E F G H Function: PV: Formula: Multiply, Add: Cell Referencing 3 Using Excel to Account for Notes Receivable 4 5 6 7 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- 8 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. 9 Student Work Area Required: 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. Prepare the journal entry to record the transaction of December 31, 2025, for the Ed Abbey Co. List credit accounts in alphabetical order DR CR 10 11 12 Face amount of note accepted by 13 Hayduke's typical borrowing rate 14 Abbey's credit line rates 15 Term of note in years 16 17 18 19 20 21 22 23 24 25 26 27 $200,000 10% 6% 2 b. Assuming Ed Abbey Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2026. DR CR c. Assuming Ed Abbey Co.'s fiscal year-end is December 31, prepare the journal entries for December 31, 2027. DR CR N