On December 31, 2014 Barker Inc. provided consulting services to Carr Company at an agreed price of $141,513.  Barker accepted...

On December 31, 2014 Barker Inc. provided consulting services to Carr Company at an agreed price of $141,513.  Barker accepted $30,000 down and agreed to accept the balance in four equal installments of $30,000 to be received quarterly (March 31, 2015; June 30, 2015; September 30, 2015; and December 31, 2015).  An assumed annual interest rate of 12% is imputed