these assets during 2020 was $2470000. To help pay for construction, $1710000 was borrowed at 11% on January 1, 2020, and funds not needed for construction were temporarily invested in short-term securities, yielding $32000 in interest revenue. Other than the construction funds borrowed, the only other debt outstanding during the year was a $1900000, 10-year, 10% note payable dated January 1, 2014. What is the amount of interest that should be capitalized by Concord during 2020? O $135850. O $271700.

At January 1, 2024, Mahmoud Industries, Incorporated, owed Second BancCorp $12 million under a 10% note due December 31, 2026. Interest was paid last on December 31, 2022. Mahmoud was experiencing severe financial difficulties and asked Second BancCorp to modify the terms of the debt agreement. After negotiation Second BancCorp agreed to: Forgive the interest accrued for the year just ended. Reduce the remaining two years’ interest payments to $1 million each and delay the first payment until December 31, 2025. Reduce the unpaid principal amount to $11 million. Required: Prepare the journal entries by Mahmoud Industries, Incorporated, necessitated by the restructuring of the debt at (1) January 1, 2024; (2) December 31, 2025; and (3) December 31, 2026.

16. On January 1, 2012, the Dolce Corporation issued a three-year, non-interest bearing note with face value of P3,000,000 for a piece of land purchased from Jardine Corporation. The note is payable in annual installments of P1,000,000 every December 31, starting on December 31, 2012. The land has an equivalent cash price of P2,400,000, a price that provides the note an effective interest rate of 12%. What is the interest expense for the year ending December 31, 2012? *   a. P360,000   b. P288,000   c. P240,000   d. P168,000

Crane Company issues a 12%, 5-year mortgage note on January 1, 2025, to obtain financing for new equipment. Land is used as collateral for the note. The terms provide for semiannual installment payments of $47,300. Click here to view the factor table What are the cash proceeds received from the issuance of the note? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round answer to 2 decimal places, e.g. 25.25.) Crane Company should receive $

9. On August 20, 2025, Micco Co. decides to invest excess cash of $3,200 by purchasing Finch, Inc. bonds. At year-end, December 31, 2025, the market price of the bonds was $2,600. The investment is categorized as available-for-sale debt. Journalize the adjusting entry needed at December 31, 2025. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31, 2025

At January 1, 2024, Clayton Hoists Incorporated owed Third BancCorp $20 million, under a 10% note due December 31, 2025. Interest was paid last on December 31, 2022. Clayton was experiencing severe financial difficulties and asked Third BancCorp to modify the terms of the debt agreement. After negotiation Third BancCorp agreed to do the following: Note: Use appropriate factor(s) from the tables provided. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) • Forgive the interest accrued for the year just ended. • Reduce the remaining two years' interest payments to $1 million each. • Reduce the principal amount to $19 million. Required: 1-3. Prepare the journal entries by Third BancCorp necessitated by the restructuring of the debt at January 1, 2024, December 31, 2024 and December 31, 2025. Note: Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers…