Common stock, $10 par value (50,000 shares outstanding) $ 500,000 preferred stock, 6% cumulative, $100 par value, 3,000 shares outstanding 300,000 additional paid in capital 200,000 retained earnings 500,000 total stockholders' equity $ 1,500,000 with respect to nichols' investment in smith, determine the amount to be recorded and identify which account should be adjusted to reflect such amount.

Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?