On July 1, 2021 Raven Co. extended a 10%, 2,300,000 loan to KMS, Inc. Principal is...

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On July 1, 2021 Raven Co. extended a 10%, 2,300,000 loan to KMS, Inc. Principal is due on December 1, 2025 but interest is due annually every January 1 of the succeeding. Raven Co. received origination fees of 338,000, incurred direct origination cost of 126,000 and indirect origination cost of 90,000. Requirement: a. Initial Carrying amount b. Amortization table c. Journal entries Problem 2. On July 1, 2021 Raven Co. extended a 11%, 2,300,000 loan to KMS, Inc. Principal is due on December 1, 2025 but interest is due annually every January 1 of the succeeding. Raven Co. received origination fees of 123,000, incurred direct origination cost of 326,000 and indirect origination cost of 55,000. Requirement: a. Initial Carrying amount b. Amortization table c. Journal entries On July 1, 2021 Raven Co. extended a 10%, 2,300,000 loan to KMS, Inc. Principal is due on December 1, 2025 but interest is due annually every January 1 of the succeeding. Raven Co. received origination fees of 338,000, incurred direct origination cost of 126,000 and indirect origination cost of 90,000. Requirement: a. Initial Carrying amount b. Amortization table c. Journal entries Problem 2. On July 1, 2021 Raven Co. extended a 11%, 2,300,000 loan to KMS, Inc. Principal is due on December 1, 2025 but interest is due annually every January 1 of the succeeding. Raven Co. received origination fees of 123,000, incurred direct origination cost of 326,000 and indirect origination cost of 55,000. Requirement: a. Initial Carrying amount b. Amortization table c. Journal entries