Adele borrows $1,000,000 from Bank to further her singing career. But after a bad cold she loses her voice and is unable to repay Bank. Pete, one of Adele's wealthy fans, approaches Bank and purchases Adele's loan for $300,000. Pete then burns the note, freeing Adele from ever repaying it.

How much gross income does Adele have? 

Answer rating: 100% (QA)

In this scenario Adele borrowed 1000000 from the bank and was unable to repay ... View the full answer