The notes receivable held by the Tuttle Company on August 3, 2019, are summarized below. On August 4, 2019, Tuttle discounted all of these notes at Community Bank and Trust at a discount rate of 10 percent. Compute the net proceeds received from discounting each note.

Analyze: What is the net interest income or expense to be reported from these transactions assuming all notes are paid when due?

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Note No. 31 32 33 Date Face Amount Perlod Interest Rate 8% Аpг. 4, 2019 June 11, 2019 July 31, 2019 6 months 120 days $60,000 30,000 20,000 60 days 10