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On December 31, 2020. Indigo Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to

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On December 31, 2020. Indigo Bank enters into a debt restructuring agreement with Barkley Company, which is now experiencing financial trouble. The bank agrees to restructure a 12%, issued at par $4.500.000 note receivable by the following modifications 1 2 Reducing the principal obligation from $4,500,000 to $3.600.000 Extending the maturity date from December 31, 2020, to January 1, 2024 Reducing the interest rate from 12% to 10% 3 Barkley pays interest at the end of each year. On January 1, 2024, Barkley Company pays $3.800.000 in cash to Indigo Bank Answer the following questions related to Indigo Bank (creditor) Prepare the interest receipt schedule for Indigo Bank after the debt restructuring (Round answers to decimal places, es 38,548) INDIGO BANK Interest Receipt Schedule After Debt Restructuring Effective-Interest Rate Cash Received Increase In Carrying Amount Interest Revenue Date Carr Amor No 12/31/20 $ 12/31/21 12/31/22 12/31/23 Total lo Prepare the interest receipt schedule for Indigo Bank after the debt restructuring (Round answers to decimal places, es. 38,548 INDIGO BANK Interest Receipt Schedule After Debt Restructuring Effective-Interest Rate Increase Interest in Carrying Revenue Amount Cash Received Carrying Amount of Note 1

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