DE 8-17 Using your answers to Daily Exercise 8-16 for Continental Bank, and carrying amounts to the

Question:

DE 8-17 Using your answers to Daily Exercise 8-16 for Continental Bank, and carrying amounts to the nearest cent, show how the bank will report

a. Note receivable and interest receivable on the bank's classified balance sheet at December 31, 20X2.

b. Whatever needs to be reported on the bank's income statement for the year ended December 31, 20X2.

c. Whatever needs to be reported for the note and related interest on the bank's classified balance sheet at December 31, 20X3. You may ignore Cash.

d. Whatever needs to be reported on the bank's income statement for the year ended December 31, 20X3.

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