-
Exercise 14-23 (Part Level Submission)
On December 31, 2020, Cullumber 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, $3,900,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,900,000 to
$3,120,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Barkley pays interest at the end...
-
Exercise 14-23 (Part Level Submission)
On December 31, 2020, Cullumber 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, $3,900,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,900,000 to
$3,120,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Barkley pays interest at the end...
-
Exercise 14-23 (Part Level Submission)
On December 31, 2020, Cullumber 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, $3,900,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,900,000 to
$3,120,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Barkley pays interest at the end...
-
Exercise 14-25 (Part Level Submission) On December 31, 2020, Pronghorn 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, $2,500,000 note receivable by the following modifications: 1. Reducing the principal obligation from $2,500,000 to $1,650,000. Extending the maturity date from December 31, 2020, to January 1, 2024. 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the end of...
-
On December 31, 2020, Martinez 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.
Reducing the principal obligation from $4,500,000 to
$3,600,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Barkley pays interest at the end of each year. On January...
-
On December 31, 2020, Oriole 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, $4,300,000 note receivable by the following modifications: 1. Reducing the principal obligation from $4,300,000 to $2,920,000, 2. Extending the maturity date from December 31, 2020, to January 1, 2024. 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the end of each year. On January...
-
Exercise 14-22 (Part Level Submission)
On December 31, 2020, American Bank enters into a debt
restructuring agreement with Flint Company, which is now
experiencing financial trouble. The bank agrees to restructure a
12%, issued at par, $3,890,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,890,000 to
$3,112,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Flint pays interest at the end...
-
Exercise 14-25 (Part Level Submission) On December 31, 2017, the Ayayai 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, $4,300,000 note receivable by the following modifications: 1. Reducing the principal obligation from $4,300,000 to $2,920,000. 2. Extending the maturity date from December 31, 2017, to January 1, 2021. 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the...
-
On December 31, 2020, American Bank enters into a debt
restructuring agreement with Ivanhoe Company, which is now
experiencing financial trouble. The bank agrees to restructure a
12%, issued at par, $2,930,000 note receivable by the following
modifications:1.Reducing the principal obligation from $2,930,000 to
$2,344,000.2.Extending the maturity date from December 31, 2020, to January
1, 2024.3.Reducing the interest rate from 12% to 10%.Ivanhoe pays interest at the end of each year. On January 1, 2024,
Ivanhoe Company pays $2,344,000 in...
-
Exercise 14-23 (Part Level Submission) On December 31, 2017, the Pina 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, $3,800,000 note receivable by the following modifcations: 1. Reducing the principal obligation from $3,800,000 to $3,040,000 2. Extending the maturity date from December 31, 2017, to January 1, 2021 3. Reducing the interest rate from 12% to 10%, Barkley pays interest at the...
Exercise 14-23 (Part Level Submission)
On December 31, 2020, Cullumber 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, $3,900,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,900,000 to
$3,120,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Barkley pays interest at the end...
Exercise 14-23 (Part Level Submission)
On December 31, 2020, Cullumber 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, $3,900,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,900,000 to
$3,120,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Barkley pays interest at the end...
Exercise 14-23 (Part Level Submission)
On December 31, 2020, Cullumber 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, $3,900,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,900,000 to
$3,120,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Barkley pays interest at the end...
Exercise 14-25 (Part Level Submission) On December 31, 2020, Pronghorn 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, $2,500,000 note receivable by the following modifications: 1. Reducing the principal obligation from $2,500,000 to $1,650,000. Extending the maturity date from December 31, 2020, to January 1, 2024. 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the end of...
On December 31, 2020, Oriole 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, $4,300,000 note receivable by the following modifications: 1. Reducing the principal obligation from $4,300,000 to $2,920,000, 2. Extending the maturity date from December 31, 2020, to January 1, 2024. 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the end of each year. On January...
Exercise 14-22 (Part Level Submission)
On December 31, 2020, American Bank enters into a debt
restructuring agreement with Flint Company, which is now
experiencing financial trouble. The bank agrees to restructure a
12%, issued at par, $3,890,000 note receivable by the following
modifications:
1.
Reducing the principal obligation from $3,890,000 to
$3,112,000.
2.
Extending the maturity date from December 31, 2020, to January
1, 2024.
3.
Reducing the interest rate from 12% to 10%.
Flint pays interest at the end...
Exercise 14-25 (Part Level Submission) On December 31, 2017, the Ayayai 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, $4,300,000 note receivable by the following modifications: 1. Reducing the principal obligation from $4,300,000 to $2,920,000. 2. Extending the maturity date from December 31, 2017, to January 1, 2021. 3. Reducing the interest rate from 12% to 10%. Barkley pays interest at the...
On December 31, 2020, American Bank enters into a debt
restructuring agreement with Ivanhoe Company, which is now
experiencing financial trouble. The bank agrees to restructure a
12%, issued at par, $2,930,000 note receivable by the following
modifications:1.Reducing the principal obligation from $2,930,000 to
$2,344,000.2.Extending the maturity date from December 31, 2020, to January
1, 2024.3.Reducing the interest rate from 12% to 10%.Ivanhoe pays interest at the end of each year. On January 1, 2024,
Ivanhoe Company pays $2,344,000 in...
Exercise 14-23 (Part Level Submission) On December 31, 2017, the Pina 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, $3,800,000 note receivable by the following modifcations: 1. Reducing the principal obligation from $3,800,000 to $3,040,000 2. Extending the maturity date from December 31, 2017, to January 1, 2021 3. Reducing the interest rate from 12% to 10%, Barkley pays interest at the...