Your answer is partially correct. Try again. Bonita Corp. Owes $258,000 to Windsor Trust. The debt is a 10 year, 12 note due December 31, 2020. Because Bonita Corp. in financial trouble, Windsor Trust agrees to extend the maturity date to December 31, 2022, reduce the principal to $203,000, and reduce the interest rate to payable annually on December 31 (a) Prepare the journal entries on Bonita's books on December 31, 2020, 2021 2022 (b) Prepare the journal entries on Windsor Trust's books on December 31, 2020, 2021, 2022 Click here to view factor tables (Round present value factor calculations to decimal places, e.g. 1.25124 and the final answer to decimal places . 58,971. I ne entry is required, select “No Entry for the account titles and enter for the amounts Credit accounts are automatically indated when amount is entered. Do not indent manually.) Credit (a) Date Account Titles and Explanation Bonita Corps 2020 Notes Payable Gain on Restructuring & 2021 Notes Payable o cash 2027tes Paytre 2020 Bad Debt Expense | Allowance for Doubtful 73873 2021 Cash 2.(Part sion) 5.(Part sion) 1114210 T 9473 Allowance for Doubtful Acc T Interest Revenue IT 23683 2022 Cash by Los TA 1 4210 TAllowance for Doubtful Acc T 10420 T T 24630 Interest Revenue (To record Interest Revenue) TCash 203000 Allowance for Doubtful Acc 55000T T Interest Revenue T T 258000 (To record maturity of Notes Receivable) A2000-2020.1ohn Wile. Sons Inc. All Riots Reserved. A Division of lohn Wiley & Sons, Inc Pecy Policy
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