Part B: Prepare an amortization schedule for Windsor up to December 31st, 2022

Part C: What is the bank's Loss Due to Impairment that should be recognized at the end of 2022?

Exercise 7-27 (Part Level Submission) On December 31, 2020, Bonita Company signed a $1,284,300 note to Windsor Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually The note matures in 5 years. Unfortunately, because of lower sales, Bonita's financial situation worsened. On December 31, 2022, Windsor Bank determined that it was probable that the company would pay back only $770,580 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,284,300 loan. (a) Determine the amount of cash Bonita received from the loan on December 31, 2020. (Round present value factors to 5 decimal places, e.g. 0.52513 and final answer to o decimal places, e.g. 5,275.) Amount of cash Bonita received from the loane Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER Exercise 7-27 (Part Level Submission) On December 31, 2020, Bonita Company signed a $1,284,300 note to Windsor Bank. The market interest rate at that time was 12%. The stated interest rate on the note was 10%, payable annually The note matures in 5 years. Unfortunately, because of lower sales, Bonita's financial situation worsened. On December 31, 2022, Windsor Bank determined that it was probable that the company would pay back only $770,580 of the principal at maturity. However, it was considered likely that interest would continue to be paid, based on the $1,284,300 loan. (a) Determine the amount of cash Bonita received from the loan on December 31, 2020. (Round present value factors to 5 decimal places, e.g. 0.52513 and final answer to o decimal places, e.g. 5,275.) Amount of cash Bonita received from the loane Attempts: 0 of 1 used