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4. Loans
a. IRA Loans to Kanter
IRA's records reflect the following amounts transferred to
Kanter and recorded as receivables:
Burton W. Kanter
1982 Beginning balance --
Adj for bal in Cedilla Trust $4,450
Ending balance 4,450
1983 Beginning balance 4,450
Loan repymt. from BWK --
Ending balance
1984 No entry
1985 Beg. balance --
Sold Geochem to BWK 500
Sell TWOOD rec to BWK 10,000
Sold funds for Energy 5,000
Rec sale of assets sold 1,110
Ending balance 16,610
1986 Unexplained acct. total (39,940)
1987 Beg. balance (39,940)
Repay BWK RE H BLUM 219
HB Rpymt (S/B to BWK) (219)
Move to notes payable 39,940
Ending balance --
1988 No entry
1989 Beg. balance --
B. Kanter/Ln 250,000
Unavailable history 350,000
Ending balance 600,000
b. Loans to Ballard, Lisle, Their Family Members and Trusts
Ballard and Lisle established the following grantor trusts,
the income (or losses) of which was includable in Ballard's and
Lisle's income pursuant to sections 671 through 678:
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