On December 31, 2025, Swifty Co. performed environmental consulting services for Hayduke Co. Hayduke was short...

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On December 31, 2025, Swifty Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Swifty Co. agreed to accept a $287,800 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 10%. Swifty is much more creditworthy and has various lines of credit at 6%. (a) Your answer is partially correct. Prepare the journal entry to record the transaction of December 31, 2025, for the Swifty Co. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter O 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.) Date Account Titles and Explanation Dec. 31, 2025 Notes Receivable Discount on Notes Receivable Service Revenue Debit 287800 Credit 237852 49948 On December 31, 2025, Swifty Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Swifty Co. agreed to accept a $287,800 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 10%. Swifty is much more creditworthy and has various lines of credit at 6%. (a) Your answer is partially correct. Prepare the journal entry to record the transaction of December 31, 2025, for the Swifty Co. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter O 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.) Date Account Titles and Explanation Dec. 31, 2025 Notes Receivable Discount on Notes Receivable Service Revenue Debit 287800 Credit 237852 49948