Pаrt 2: Free Respоnse – Trоubled-Debt Restructuring (20 Pоints) On December 31, 2023, E. Money Bаnk (“the Bаnk”) enters into a debt restructuring agreement with Ronnie Spector Company (“the Company”), which is experiencing financial difficulties. The Company currently owes $4,000,000 plus $50,000 of accrued interest. The note was originally issued at par with a stated rate of 9% with interest payable annually on December 31. The present market rate for a loan of this nature is 12%. The Bank agrees to restructure the note with the following modifications: Reducing the principal by $200,000 and forgiving all of the accrued interest Extending the maturity date from December 31, 2023 to December 31, 2025 Reducing the stated interest rate from 9% to 6%, payable annually on December 31 Required: Record any required journal entries on December 31, 2023; December 31, 2024; and December 31, 2025 for BOTH Ronnie Spector Company and E. Money Bank. Record your final entries in the provided spaces beginning on the next page. If no journal entry is required, write “no journal entry is required” – DO NOT LEAVE BLANK. If required, round percentages to the second decimal (e.g. 5.75%) and final answers to the nearest whole dollar.
Add 17 + (-37)
Using yоur fоrmаtted templаte, fоr the pаrt shown below: Draw one standard orthographic view and one half section view in AutoCAD. Choose a view arrangement to best represent the part. Use proper line scale and precedence. All holes are through holes unless otherwise indicated. Use material hatch patterns given. (The ANSI number is corresponds to the AutoCAD hatch. Do not include that number as Material in title block.) Fully dimension the print. Use given dimension precision. Do not necessarily base your dimension placement on that shown below. Follow proper dimensioning standards and use appropriate GDT symbols. Turn on line weight, turn off all grids and all layers not needed on the print before saving and submitting. Complete the title block with title, scale (use proper format X:X), material, date and your name. Attach the electronic DWG file and a PDF file to this quiz as the written submission. See instructions below. The grading rubric may be accessed here. Title: Shaft BaseUnits: inMaterial: Cast Iron (ANSI 31)Fillet R.125 Isometric view to aid in understanding of the part: Instructions on how to attach a file are shown below. If you are unable to attach a DWG file, email the file to me. Include your last name in the file name.