d. A loan from a major shareholder/employee had a remaining principal amount of $150,000 plus accrued interest of $4,500 based on the stated rate of 12% payable quarterly. Given significantly lower...

d. A loan from a major shareholder/employee had a remaining principal amount of $150,000 plus accrued interest of $4,500 based on the stated rate of 12% payable quarterly. Given significantly lower current market rates, the shareholder agreed to restructure the debt as follows: 6% interest, 16 quarterly payments of principal and interest in the amount of $8,810.25, and receipt of a cash bonus of $30,000 in satisfaction of any remaining debt.