Current Attempt in Progress On December 31,2025, American Bank enters into a debt restructuring...
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Current Attempt in Progress On December American Bank enters into a debt restructuring agreement with Swifty Company, which is now experiencing financial trouble. The bank agrees to restructure a issued at par, $ note receivable by the following modifications: Reducing the principal obligation from $ to $ Extending the maturity date from December to January Reducing the interest rate from to Swifty pays interest at the end of each year. On January Swifty Company pays $ in cash to American Bank.Your answer is partially correct. c Assuming that the interest rate Swifty should use to compute interest expense in future periods is prepare the interest payment schedule of the note for Swifty Company after the debt restructuring. Round answers to decimal places, eg 
Current Attempt in Progress
On December American Bank enters into a debt restructuring agreement with Swifty Company, which is now experiencing
financial trouble. The bank agrees to restructure a issued at par, $ note receivable by the following modifications:
Reducing the principal obligation from $ to $
Extending the maturity date from December to January
Reducing the interest rate from to
Swifty pays interest at the end of each year. On January Swifty Company pays $ in cash to American Bank.Your answer is partially correct.
c Assuming that the interest rate Swifty should use to compute interest expense in future periods is prepare the interest
payment schedule of the note for Swifty Company after the debt restructuring. Round answers to decimal places, eg
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