Business, 07.10.2019 17:10 igocrazy594

During 2018 marquis company was encountering financial difficulties and seemed likely to default on a $300,000, 10%, four-year note dated january 1, 2016, payable to third bank. interest was last paid on december 31, 2017. on december 31, 2018, third bank accepted $250,000 in settlement of the note. ignoring income taxes, what amount should marquis report as a gain from the debt restructuring in its 2018 income statement?
a) $20,000.b) $50,000.c) $80,000.d) $0.

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