Your answer is partially correct. Try again. Concord Corp. owes $286,000 to Marigold Trust. The debt is a 10-year, 12% note due December 31, 2017. Because Concord Corp. is in financial trouble, Marigold Trust agrees to extend the maturity date to December 31, 2019, reduce the principal to $241,000, and reduce the interest rate to 6%, payable annually on December 31. (a) Prepare the journal entries on Concord's books on December 31, 2017, 2018, 2019. (b) Prepare the journal entries on Marigold Trust's books on December 31, 2017, 2018, 2019. (b) Prepare the journal entries on Marigold Trust's books on December 31, 2017, 20 JRCES TABLE 6-2 PRESENT VALUE OF 1 (PRESENT VALUE OF A SINGLE SUM) vities PVF, = 14 +1 = 14 +11" Periods art 2% 98039 .96117 .94232 .92385 .90573 24% 97561 95181 92860 90595 88385 3% 97087 94260 91514 88849 86261 4% .96154 .92456 .88900 .85480 82193 5% 95238 .90703 .86384 .82270 .78353 8% .94340 .89000 .83902 .79209 .74726 .88797 .87056 .85349 .83676 .82035 86230 84127 82075 80073 .78120 83748 81309 .78941 -76642 .74409 .79031 .75992 .73009 .70259 .67556 .74622 .71068 .67684 .64461 .61391 .70496 .68506 .62741 .59190 .55839 Study .80426 .78849 .77303 .75788 .74301 .76214 .74356 .72542 .70773 69047 .72242 .70138 .68095 .66112 .64186 .84958 .62460 .60057 .57748 .55526 .58468 55684 .53032 50507 48102 .52679 .49697 .46884 .44230 .41727 .72845 .71416 .70016 .68643 .67297 67362 65720 84117 .62553 61027 .62317 .60502 .58739 57029 .55368 .53391 .51337 .49363 .47464 .45639 45811 43630 41552 39573 37689 39365 37136 35034 .33051 31180 .65978 .84684 .63416 .62172 .60953 59539 58086 56870 55288 53939 53755 52189 -50669 49193 47761 43883 .42198 .40573 39012 37512 35894 34185 32557 31007 29530 .29416 27751 28180 .24896 .23300 .59758 .58586 -57437 -56311 .55207 52623 51340 50088 48866 47674 46309 45019 43708 42435 41199 .36069 34682 33348 32065 .30832 28124 26785 25509 24295 23138 21981 .20737 . 19563 .18456 17411 54125 53063 -52023 -51003 .50003 46511 45377 44270 43191 42137 39999 38834 37703 36604 35538 29646 28506 27409 26355 25342 22036 20987 .19987 19035 .18129 16425 .15496 .14619 .13791 13011 49022 .48061 47119 46195 45289 41109 40107 39128 38174 37243 34503 33498 32523 31575 30656 24367 23430 22529 21062 20829 .17286 16444 15661 .14915 .14205 .12274 .11579 10924 .10306 .09722 TABLE 6-2 PRESENT VALUE OF 1 RCES TABLE 6-2 PRESENT VALUE OF 1 vities (n) Periods 8% .92593 .85734 -79383 .73503 88058 9% 91743 84168 .77218 .70843 64993 10% .90909 .82645 .75132 .68301 .62092 11% .90090 .81162 .73119 .65873 .59345 12% .89286 .79719 .71178 .63552 .56743 15% .86957 -75614 .65752 .57175 .49718 .63017 58349 54027 -50025 46319 59627 54703 50187 46043 42241 .56447 .51316 .40651 42410 38554 .53464 48166 43393 39092 35218 .50663 .45235 40388 30061 .32197 43233 37594 32690 28426 24719 Study. .42688 39711 36770 34046 31524 38753 35554 32618 29925 27454 35049 31863 28966 26333 23939 31728 28584 25751 23199 20900 28748 .25668 22917 20462 .18270 21494 .18691 16253 14133 .12289 29189 27027 25025 23171 21455 25187 23107 21199 19449 17843 21763 19785 17986 16351 .14864 .18829 .10963 .15282 .13768 .12403 . 16312 .14584 .13004 .11611 10367 .10687 .09293 .08081 .07027 .06110 -19866 18394 .17032 .15770 .14602 .16370 .15018 .13778 .12841 11597 .13513 .12285 .11168 .10153 .09230 .11174 .10067 .09069 .08170 .07361 .09256 .08284 .07379 .08588 .05882 .05313 .04820 04017 03493 03038 .13520 .12519 .11591 .10733 .09938 .10639 .09761 .08955 .08216 .07537 .08391 .07628 .06934 .06304 .06731 .06631 .05974 .05382 .04849 .04368 .05252 .04689 .04187 .03738 .03338 .02642 _02297 .01997 .01737 .01510 .09202 08520 .07889 -07305 .06763 .06915 .00344 .05820 .05340 .04899 .05210 .04736 .04308 .03914 .03558 .03935 03545 .03194 .02878 .02592 .02960 .02661 .02376 .02 121 .01894 .01313 .01142 .00993 .00864 .00751 06262 .05799 .05369 _04971 .04003 04494 04123 03783 .03470 .03184 .03235 .02941 .02674 .02430 .022 10 ,02335 02104 .01896 01708 .01538 .01691 .01510 .01348 .01204 .01075 .00653 .00568 .00494 .00429 .00373 CALCULATOR STANDARD VIEW PRINTER VERSION TABLE 6-4 PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 PVF-OA =- 1 + 0 Periods 3% 696 29 .98039 1.94156 2.88388 3.80773 4.71346 2x% .97581 1.92742 2.85602 3.76197 4.64583 97087 1.91347 2.82861 3.71710 4.57971 4% 98154 1.88609 2.77509 3.62990 4.45182 5% 95238 1.85941 2.72325 3.54595 4.32948 94340 1.83339 2.67301 3.46511 4.21236 5.60143 6.47199 7.32548 8.16224 8.98259 5.50813 6.34939 7.17014 7.97087 8.75206 5.41719 6.23028 7.01969 7.78611 8.53020 5.24214 6.00205 6.73274 7.43533 8.11090 5.07589 5.78637 6.46321 7.10782 7.72173 4.91732 5.56238 6.20979 6.80169 7.30009 9.78685 10.57534 11.34837 12.10625 12.84926 9.51421 10.25776 10.98319 11.69091 12.38138 9.25262 9.95400 10.63496 11.29607 11.93794 8.76048 9.38507 9.98565 10.56312 11.11839 8.30841 8.86325 9.39357 9.89864 10.37906 7.88887 8.38384 8.85268 9.29498 9.71225 13.57771 14.29187 14.99203 15.67846 16.35143 13.05500 13.71220 14.35336 14.97889 15.58916 12.56110 13.16612 13.75351 14.32380 14.87747 11.65230 12.16567 12.65930 13.13394 13.59033 10.83777 11.27407 11.68959 12.08532 12.46221 10.10590 10.47726 10.62760 11.15812 11.40992 17.01121 17.65805 18.29220 18.91393 19.52346 16.18455 16.76541 17.33211 17.88499 18.42438 15.41502 15.93692 16.44361 16.93554 17.41315 14.02916 14.45112 14.85684 15 24696 15.62208 12.82115 13.16300 13.48857 13.79864 14.09394 11.76408 12.04158 12.30338 12.55036 12.78338 20.12104 20.70690 21.28127 21.84438 22.39646 18.95061 19.48401 19.98489 20.45355 20.93029 17.87684 18.32703 18.76411 19.18845 19.60044 15.98277 16.32959 16.66306 16.98371 17.29203 14.37519 14.64303 14.89813 15.14107 15.37245 13.00317 13.2 1053 13.40816 13.59072 13.76483 22.93770 23.46833 23.98856 24.49859 24.99862 21.39541 21.84918 22 29188 22.72379 23.14516 20.00043 20.38877 20.76579 21.13184 21.48722 17.58849 17.87355 18.14765 18.41120 18.66481 15.59281 15.80268 16.00255 16.19290 16.37419 13.92909 14.08404 14.23023 14.36814 14.49825 25.48864 25.96945 26.44064 26.90259 27.35548 23.55625 23.95732 24.34860 24.73034 25.10278 21.83225 22. 16724 22.49246 22.80822 23.11477 18.90828 19.14256 19.36786 19.58448 19.79277 16.54685 16.71129 16.86789 17.01704 17.15909 14.62099 14.73878 14.84602 14.94907 15.04630 TABLE 6-4 PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 TABLE 6-4 PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 Periods 8% 92593 1.78326 2.57710 3.31213 3.99271 9% 91743 1.75911 2.53130 3.23972 3.88965 10% .90909 1.73554 2.48685 3.16986 3.79079 11% 90090 1.71252 2.44371 3.10245 3.69590 12% .89286 1.69005 2.40183 3.03735 3.60478 15% .88957 1.62571 2.28323 2.85498 3.35216 4.62288 5.20637 5.74664 6.24689 6.71008 4.48592 5.03295 5.53482 5.99525 6.41766 4.35526 4.86842 5.33493 5.75902 6.14457 4.23054 4.71220 5.14612 5.53705 5.88923 4.11141 4.56376 4.96764 5.32825 5.65022 3.78448 4.16042 4.48732 4.77158 5.01877 7.13896 7.53608 7.90378 8.24424 8.55948 6.80519 7.16073 7.48890 7.78815 8.00009 6.49506 6.81369 7.10336 7.36609 7.00008 6.20652 6.49236 6.74987 6.98187 7.19087 5.93770 6.19437 6.42355 6.62817 6.81086 5.23371 5.42062 5.58315 5.72448 5.84737 8.85137 9.12164 9.37189 9.60360 9.81815 8.31256 8.54363 8.75563 8.95012 9.12855 7.82371 8.02155 8.20141 8.36492 8.51356 7.37916 7.54879 7.70162 7.83929 7.96333 6.97399 7.11963 7.24967 7.36578 7.46944 5.95424 6.04716 6.12797 6.19623 6.25933 10.01680 10.20074 10.37106 10.52876 10.67478 9.29224 9.44243 9.58021 9.70661 9.82258 8.64869 8.77154 8.88322 8.98474 9.07704 8.07507 8.17574 8.28843 8.34614 8.42174 7.56200 7.84465 7.71843 7.78432 7.84314 6.31246 6.35866 6.39684 6.43377 6.46415 10.80998 10.93516 11.05108 11.15841 11.25778 9.92897 10.02658 10.11613 10.19828 10.27365 9.16096 9.23722 9.30657 9.36961 9.42691 8.48806 8.54780 8.80162 8.65011 8.69379 7.89566 7.94255 7.98442 8.02181 8.05518 6.49056 6.51353 6.53351 6.55088 6.56596 11.34980 11.43500 11.51389 11.58693 11.65457 10.34280 10.40624 10.46444 10.51784 10.58882 9.47901 9.52638 9.56943 9.60858 9.64416 8.73315 8.76860 8.80054 8.82932 8.85524 8.08499 8.11159 8.13535 8.15656 8.17550 6.57911 6.59053 6.60046 6.60910 6.61661 11.71719 11.77518 11.82887 11.87858 11.92461 10.61176 10.65299 10.69062 10.72552 10.75736 9.67651 9.70592 9.73266 9.75697 9.77905 8.87859 8.89963 8.91859 8.93567 8.95105 8.19241 8.20751 8.22099 8.23303 8.24378 6.62314 6.62882 6.63375 6.63805 6.64178 (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the answer to decimal nlaces ea58 971 If no entry is required select "No Entry" 2017 Totes Payable 2017 Notes Payable 45000 | Gain on Restructuring of Debt 45000 2018 Notes Payable T 144601 Cash 14460 2019 Notes Payable T Cash 241000 Debit Credit (b) Date Account Titles and Explanation Marigold Trust's 2017 Bad Debt Expense 45000 45000 Allowance for Doubtful Accounts 45000 2018 Tcash 45000 DELBOS: JOJHDDDD DDE _ Allowance for Doubtful Accounts 45000 Tinterest Revenue 2019 Tcash Allowance for Doubtful Accounts X- Notes Receivable (To record Interest Revenue) Tcash Allowance for Doubtful Accounts Il interest Revenue enten