Current Attempt in Progress

On December $31,2025,$ Sheffield Inc. rendered services to Beghun Corporation at an agreed price of $\backslash (\backslash$$ $124,594\backslash ),$ accepting $\backslash (\backslash$$ $48,200\backslash )$ down and agreeing to accept the balance in four equal installments of $\backslash (\backslash$$ $24,100\backslash )$ receivable each December $31.$ An assumed interest rate of $\backslash (10\backslash \%\backslash )$ is imputed.

Your answer is correct.

Prepare an amortization schedule. Assume that the effective$-$interest method is used for amortization purposes. $($Round answers to $\backslash ($ O $\backslash )$ decimal places, e$.$g$.5,275.)$

Prepare the entry that would be recorded by Sheffield Inc. for the sale on December $31,2025.($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. List all debit entries before credit entries.$)$

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