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need help with the last picture. description in the first picture Mailings Review Chapter 07 Homework - Notes Receivable View Table Design Layout Tell me
need help with the last picture. description in the first picture
Mailings Review Chapter 07 Homework - Notes Receivable View Table Design Layout Tell me ALT AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbcode Normal No Spacing Heading 1 Heading 2 #9 Problem 7-15 Zero-Interest notes receivable, impairment On January 1, 2020, Botosan Company issued a $1,200,000, 5-year, zero interest-bearing note to National Organization Bank. The note was issued to yield 8% annual interest. Unfortunately, during 2021 Batosan fell into financial trouble due to increased competition. After reviewing all available evidence on December 31, 2021, National Organization Bank decided that the loan was impaired. Batasan will probably pay back only $800,000 of the principal at maturity. Instructions: Complete the note amortization table. Cash Received Interest Revenue Discount Amortization Discount Balance Date 1-1-20 12-31-20 12-31-21 12-31-22 12-31-23 12-31-24 65,336 70,563 76,208 82,305 88,889 65,336 70,563 76,208 82,305 88,889 Carrying Value 816,700 882,036 952,559 1,028,807 1,111,111 1,200,000 total 383,300 383,300 Instructions: Journalize the transactions for the note origination and interest recognition for the first 2 years for the lender. 8 of 10 Chapter 07 Homework - Notes Receivable BRODOG Bbc com AaBb. 1-31-21 Note Receivable Interest Income Styles 70,653 70,653 Recalculate the carrying value of the note pursuant to the events that occurred on December 31, 2021. Instructions: Prepare the journal entry to record the note impairment. Date Account Debit Credit Instructions: Provide the net realizable presentation of the notes receivable as it would appear on the December 31, 2021 balance sheet. 12/31/2021 Focus Zero-interest and interest-bearing notes receivable #10 Exercise 7-13 Insert English (United States) Step by Step Solution
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