Accounts receivable
### 4,350,000
### 50,000
80,000
###
Age Amount % uncoll. Allowance
0-30 days 785,000 2% 15,700
31-60 days 471,000 5% 23,550
over 60 days 314,000 15% 47,100
Total 1,570,000 86,350
Allowance for Bad debts
80,000 33,750
15,000
117,600
86,350
Note: No provision was made in the previous months.
Gross accounts receivable 1,570,000
Less: Allowance, end (86,350)
NRV 1,483,650
Accounts receivable
773,450 5,515,000
### 90,000
###
Note: Add back the beginning balance of allowance in analysis of
Accounst receivable gross balance
Age Amount % uncoll. Allowance
0 - 30 days 700,000 1% 7,000
31 - 90 days 320,000 4% 12,800
91 - 180 days 210,000 8% 16,800
over 180 138,450 15% 20,768
Total 1,368,450 57,368
Allowance for Bad debts
90,000 23,450
35,000
88,918
57,368
Accounts receivable
400,000 32,000
7,000
375,000
Allowance for BD
32,000 34,000
5,000
12,000
19,000
Accounts receiivable 12/31/22 375,000
Less: Allowance, end (19,000)
Net realizable value 356,000
2,135,341
0.71178025
0.28821975
2.40183127
720,549
2,855,890
144,110
Date NI EI Amort CV
1/1/23 2,855,890
12/31/23 300,000 342,707 42,707 2,898,597
12/31/24 300,000 347,832 47,832 2,946,429
12/31/25 300,000 353,571 53,571 3,000,000
Date Prin NI EI Amort
1/1/23
12/31/23 1,000,000 360,000 310,263 49,737
12/31/24 1,000,000 240,000 205,289 34,711
12/31/25 1,000,000 120,000 101,818 18,182
Current portion: 2,052,893 - 1,018,182 = 1,034,711
Non-current portion (CV next year) 1,018,182
Total CV as of 12/31/2023 2,052,893
Due within 12 months after the reporting period:
Principal to be collected on 12/31/2024 1,000,000
Plus: Amortization of premium on that year 34,711
CV of current portion 1,034,711
Due beyond 12 months after the reporting period:
Principal to be collected on 12/31/2025 1,000,000
Plus: Amortization of premium on that year 18,182
CV of non-current portion 1,018,182
Date Prin NI EI Amort
6/30/23
6/30/24 1,000,000 360,000 310,263 49,737
6/30/25 1,000,000 240,000 205,289 34,711
6/30/26 1,000,000 120,000 101,818 18,182
Date Prin NI EI Amort
6/30/23
12/31/23 180,000 155,132 24,869
6/30/24 1,000,000 180,000 155,132 24,869
12/31/24 120,000 102,645 17,355
6/30/25 1,000,000 120,000 102,645 17,355
12/31/25 60,000 50,909 9,091
6/30/26 1,000,000 60,000 50,909 9,091
Interest income - 2023
Interest income - 2024
Interest income - 2025
Interest income - 2026
PV of note receivable 1/1/2021:
PV of principal (500,000 x 1.05 ^-4) 411,351
PV of interest (500,000 x 3% x 3.545950) 53,189
Initial PV of NR 464,540
Add: Cash received 200,000
Total selling price 664,540
Less: CV of equipment sold (1M - 400,000) (600,000)
Gain on sale 64,540
464,540 x 1.05 - 15,000 = 472,767 x 5% = 23,638
Note receivable for sale of goods:
Interest receivable / Interest income (2M x 12% x 6/ 120,000
Note receivable from sale of equipment:
Principal 3,000,000
Add: Interest income in 2021 (3M x 12%) 360,000
CV as of 12/31/2021 3,360,000
Multiplied by: 12% 12%
Interest income in 2022 403,200
Note receivable from services rendered:
CV = PV as of 12/31/2022 1,000,000
2022 1,000,000 500,000 1,500,000 0.970874
2023 2,000,000 450,000 2,450,000 0.942596
2024 3,000,000 350,000 3,350,000 0.915142
2025 4,000,000 200,000 4,200,000 0.888487
Initial CV of note receivable
Date Principal NI (5%) EI (3%) Amort
1/1/22
12/31/22 1,000,000 500,000 316,891 183,109
12/31/23 2,000,000 450,000 281,398 168,602
12/31/24 3,000,000 350,000 216,340 133,660
12/31/25 4,000,000 200,000 122,330 77,670
Principal amount 500,000
Less: discount (500,000 x 12%x 6/12) (30,000)
Proceeds from discounting 470,000
Receivable factored 1,000,000
Less: Factoring fee (loss on factoring) 1M x 5% (50,000)
Less: Receivable from factor (1Mx 10%) (100,000)
Proceeds from factoring 850,000
Total proceeds 1,320,000
Pricipal amount (loan) XX
Add: Direct origination cost XX
Less: Direct origination fee (XX)
Initial CV of loan receivable XX
Note: Because of the effect of direct origination cost and fee, the effective int
Pricipal amount (loan) 20,000,000
Add: Direct origination cost 478,991
Less: Direct origination fee (2,210,782)
Initial CV of loan receivable 18,268,209
PV of loan receivable using 5% effective interest:
PV of principal (20M x 1.05^-5) 15,670,523
PV of interest (20M x 3% x 4.329477) 2,597,686
Initiial CV of loan receivable 18,268,209
Date NI (3%) EI (5%) Amort CV
4/1/21 18,268,209
12/31/21 450,000 685,058 235,058 18,503,267
4/1/22 150,000 228,353 78,353 18,581,620
12/31/22 450,000 696,811 246,811 18,828,431
4/1/23 150,000 232,270 82,270 18,910,701
12/31/23 450,000 709,151 259,151 19,169,852
4/1/24 150,000 236,384 86,384 19,256,236
12/31/24 450,000 722,109 272,109 19,528,345
4/1/25 150,000 240,703 90,703 19,619,048
12/31/25 450,000 735,714 285,714 19,904,762
4/1/26 150,000 245,238 95,238 20,000,000
18,268,209 x 5% = 913,410
18,581,620 x 5% = 929,081
18,910,701 x 5% = 945,535
Total interest income in 2022 925,163
alysis of
NCA Due beyond 12 months
CA Due within 12 months
CV
3,102,630 Cash
2,052,893 Premium on NR
1,018,182 Interest income
(0) Notes receivable
Interest receivable
Premium on NR
Interest income
CV
3,102,630
2,052,893
1,018,182
(0)
CV
3,102,630 Current 1,024,869
3,077,762
2,052,893 Non - current 2,052,893
2,035,538
1,018,182 Principal due on 6/30/24
1,009,091 Plus: Amort.
(0) CV of current portion
155,132 Principal due on 6/30/25 and 26
Plus: Amort.
257,776 CV of non-current portion
153,554
50,909
1,456,311
2,309,360
3,065,725
3,731,646
10,563,041
CV
10,563,041
9,379,932
7,211,330
4,077,670
-
basis of effective interest
ee, the effective interest will change
1,360,000
49,737
310,263
1,000,000
360,000
49,737
310,263
1,000,000
24,869
1,024,869
2,000,000
52,892
2,052,892
