Business, 02.09.2021 21:50 shawn379

On June 1, 2020, Bonita Industries loaned Carla Vista $1690000 on a 12% note, payable in five annual installments of $338000 beginning January 2, 2021. In connection with this loan, Carla Vista was required to deposit $4900 in a noninterest-bearing escrow account. The amount held in escrow is to be returned to Carla Vista after all principal and interest payments have been made. Interest on the note is payable on the first day of each month beginning July 1, 2020. Carla Vista made timely payments through November 1, 2020. On January 2, 2021, Bonita received payment of the first principal installment plus all interest due. At December 31, 2020, Bonita's interest receivable on the loan to Carla Vista should be

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On June 1, 2020, Bonita Industries loaned Carla Vista $1690000 on a 12% note, payable in five annual...