n January $1,2024,$ ICN, Incorporated, was indebted to First Bank under a $$480,000,10\%$ unsecured note. The note was signed January $1,2020,$ and was due December $31,2025.$ Annual interest was last paid on December $31,2022.$ ICN was experiencing severe financial difficulties and negotiated a restructuring of the terms of the debt agreement. First Bank agreed to reduce last year's interest and the remaining two years' interest payments to $$23,110$ each and delay all payments until December $31,2025,$ the maturity date.