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$65,000 and sold for a price of $zero; (2) a $22,862 long-term
capital loss on its investment in 1984 Development, Ltd.,
partnership interest acquired in 1982 having an adjusted basis of
$23,962 and a selling price of $1,000; (3) a $132,013 bad debt;
(4) a $1,176,670 loss on business notes.
The IRA general ledger for January 1 to December 31, 1987,
shows the following transactions with respect to the receivables:
Holding Co.
Unavailable history $64,000
Assets from Int'l Films ADJ 12 12,743
New balance 76,743
Int'l Films
Unavailable history 507,648
Int'l Films/loan 10/20/87 60
Payment from Int'l Films AJE 08 (507,708)
New balance 0
HELO
Unavailable history 485,825
Sell N/R to MAF ADJ 32 (485,825)
Payment from Int'l Films ADJ 08 114,870
Sold to MAF ADJ 09 (114,870)
Int'l Films on amts owed ADJ 10 (7,433)
MAF purchase HELO N/R (1)
Assets from Int'l Films ADJ 12 7,433
ADJ CR ADJ 24 1
New balance 0
Safari Trust
Payment from Int'l Films ADJ 08 62,550
Sold to MAF ADJ 09 (62,550)
Int'l Films on amts owed ADJ 10 (4,048)
Assets from Int'l Films ADJ 12 4,048
New balance 0
CMB Cinema Trust
Payment from Int'l Films ADJ 08 44,887
Sold to MAF ADJ 09 (44,887)
Int'l Films on amts owed ADJ 10 (2,905)
Assets from Int'l Films ADJ 12 2,905
New balance 0
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