Date Collection Period PVF

December 31, 2014 50,000 1 0.9009

December 31, 2015 100,000 2 0.8116
December 31, 2016 200,000 3 0.7312
December 31, 2017 300,000 4 0.6587
December 31, 2018 100,000 5 0.5935

Principal 750,000
Accrued interest in 2012 82,500
Carrying amount, 12/31/13 832,500
PV of projected cash flows (529,405)
Loan impairment loss in 2013 303,095

1 Loan impairment loss 303,095

Interest receivable 82,500
Allowance for loan imp 220,595

2 Cash 50,000
Loan receivable 50,000

Allowance for loan imp 58,235

Interest Income 58,235

3 Date Collection Period PVF

December 31, 2015 150,000 1 0.9009
December 31, 2016 300,000 2 0.8116
December 31, 2017 250,000 3 0.7312

Principal (750,000 - 50,000) 700,000

PV of projected cash flows (561,415)
Allowance for loan impairment 138,585

Allowance for loan impairment

(220,595 - 58,235 - 138,585) 23,775
Reversal of impairment loss 23,775

Allowance for loan imp 61,756

 Interest income 61,756

4 Date Collection Period PVF

December 31, 2016 300,000 1 0.9009
December 31, 2017 250,000 2 0.8116

Principal (700,000 - 150,000) 550,000

PV of projected cash flows (473,170)
Allowance for loan impairment 76,830

Cash 150,000
Loan receivable 150,000

Allowance for loan imp 52,049

Interest Income 52,049
PV
45,045
81,160
146,240
197,610
59,350
529,405

PV
135,135
243,480
182,800
561,415
PV
270,270
202,900
473,170