On December $31,2025,$ Sheridan Co$.$ performed environmental consulting services for Hayduke Co$.$ Hayduke was short of cash, and Sheridan Co$.$ agreed to accept a $$309,400$ zero$-$interest$-$bearing note due December $31,2027,$ as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of $11\%.$ Sheridan is much more creditworthy and has various lines of credit at $7\%.($a$)$Prepare the journal entry to record the transaction of December $31,2025,$ for the Sheridan Co$.($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ 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. List all debit entries before credit entries.$)$eTextbook and Media$($b$)$Assuming Sheridan Co$.$s fiscal year$-$end is December $31,$ prepare the journal entry for December $31,2026.($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 debit entry before credit entry.$)$eTextbook and Media$($c$)$The parts of this question must be completed in order. This part will be available when you complete the part above.Assuming Sheridan Co$.$s fiscal year$-$end is December $31,$ prepare the journal entry for December $31,2027.($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.$)$eTextbook and Media