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Periscope Port Authority has had a? long-term relationship with the nearby lumber? company, which ships a significant amount of lumber through the port. To help finance the lumber? company's operations, Periscope advanced $10 million to the lumber company in return for a promissory note that specified payment of the $10 million plus interest at 6% ?annually, due at the end of two years.? However, due to adverse conditions in the lumber? industry, the lumber company was unable to meet its obligation and pay Periscope at the end of two years. In light of the importance of the relationship between Periscope and the lumber? company, Periscope extended the due date by three years? (after the original two? years) but increased the repayment amount to $13 ?million, inclusive of interest. The market interest rate for the loan remained at 6%.
Required
Problem 1: Record the journal entries relating to the note receivable from the date of issuance to the restructuring? date, inclusive.
Find What will be current ratio? As on December 31 £ '000s- Cash 120- Accounts receivable 400- Inventory 1400- Accounts payable 350- Taxes payable 250- loan pay
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CMU clinic is considering purchasing
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