Baker Inc. acquired equipment from the manufacturer on 10/1/2021 and gave a noninterest-bearing note in exchange. Baker is obligated to pay $948,000 on 4/1/2022 to satisfy the obligation in full of Baker accrued interest of $12,000 on the note in its 2021 year-end financial statements, what is its Imputed annual interest rate? Multiple Choice ances None of these answer choices are correct 26% 78% 52% Brewer Inc. is owed $213,000 by Carol Co. under a 12% note with two years remaining to maturity. Due to financial difficulties Carol Co, did not pay the prior year's interest. Brewer agrees to settle the recevable (and accrued interest) in exchange for a cash payment of $163,000. The journal entry that Brewer would make to record this transaction would include a loss on troubled debt restructuring as bad debt expense in the amount of Multiple Choice $0 $25,560 $50,000 $75,560