Question: On January 2 , 2 0 1 4 , Sparky Company performed consultation services for Wildcat Corporation and agreed to allow Wildcat to pay over

On January

2, 2014,

Sparky Company performed consultation services for Wildcat Corporation and agreed to allow Wildcat to pay over time. Sparky is considering several different note options below. Wildcat's normal borrowing rate is

8 % .

For each option listed below, determine Service Revenue Sparky can record at Jan.

2, 2014,

Interest Revenue to be recorded at December

31, 2015,

and the Carrying Value of the Note Receivable on their Balance Sheet at December

31, 2015 (

after interest has been accrued.

)

On January 2,2014, Sparky Company performed consultation services for Wildcat Corporation

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