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Exercise 7-14 (Part Level Submission) On December 31, 2020, Tamarisk Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Tamarisk Co. agreed to accept a $330,600 zero-interest-bearing note due December 31, 2022, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 11% Tamarisk is much more creditworthy and has various lines of credit at 6%. (a) Your answer is partially correct. Try again, Prepare the journal entry to record the transaction of December 31, 2020, for the Tamarisk Co. (Round present value factor calculations to 5 decimal pl 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 for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec 31, 2020 Notes Receivable 330600 Discount on Notes Rece 57376 Service Revenue 273224 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Attempts: 5 of Sused (b) Your answer is partially correct. Try again. Attempts: 5 of 5 used (b) Your answer is partially correct. Try again. Assuming Tamarisk Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2021. (Round answers to decimal places, e.. 5,275. In 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.) Date Account Titles and Explanation Debit Credit Dec 31, 2021 Discount on Notes Receiva 26832 Interest Revenue 26832 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Attempts 1 of 5 used SAVE PO LATER SUBMIT ANSWER (c) The parts of this question must be completed in order. This part will be available when you complete the part above. Attempts: 5 of Sused (b) Your answer is partially correct. Try again. Assuming Tamarisk Co.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2021. (Round answers to decimal places, eg. 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.) Date Account Titles and Explanation Debit Credit Dec 31, 2021 (Discount on Notes Receiva 26832 Interest Revenue 26832 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Attempts: 1 of 5 used SAVE FOR LATER SUBMIT ANSWER (c) The parts of this question must be completed in order. This part will be available when you complete the part above

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