BE7-17 (L08) Use the information presented in BE7-16 for Horton Corporation. Prepare any en Horton's accounting records correct and complete. tries necessary to make BE7-18 (LO9) Assume that Toni Braxton Company has recently fallen into financial difficulties. By reviewing all availalbl evidence on December 31, 2017, one of Toni Braxton's creditors, the National American Bank, determined that Toni Braxton would pay back only 65% of the principal at maturity. As a result, the bank decided that the loan was impaired. If the loss is estimated to be $225,000, what entry(ies) should National American Bank make to record this loss? EXERCISES E7-1 (LO1) EXCEL (Determining Cash Balance) The controller for Clint Eastwood Co. is attempting to determine the amount of cash to be reported on its December 31, 2017, balance sheet. The following information is provided. 1. Commercial savings account of $600,000 and a commercial checking account balance of $900,000 are held at First National Bank of Yojimbo. 2. Money market fund account held at Volonte Co. (a mutual fund organization) permits Eastwood to write checks on this balance, $5,000,000 3. Travel advances of $180,000 for executive travel for the first quarter of next year (employee to reimburse through salary reduction) 4. A separate cash fund in the amount of $1,500,000 is restricted for the retirement of long-term debt. 5. Petty cash fund of $1,000. An LO.U. from Marianne Koch, a company customer, in the amount of $190,000. A bank overdraft of $110,000 has occurred at one of the banks the company uses to deposit its cash receipts. At the present ime, the company has no deposits at this bank. The company has two certificates of deposit, each totaling $500,000. These CDs have a maturity of 120 days. Eastwood has received a check that is dated January 12, 2018, in the amount of $125,000. ). Eastwood has agreed to maintain a cash balance of $500,000 at all times at First National Bank of Yojimbo to ensure future credit availability il. Eastwood has purchased $2,100,000 of commercial paper of Sergio Leone Co. which is due in 60 da 12. Currency and coin on hand amounted to $7,700 ays Instructions (a) Compute the amount of cash to be reported on Eastwood Co.'s balance sheet at December 31, 2017 (b) Indicate the proper reporting for items that are not reported as cash on the December 31, 2017, balance sheet