1. Compute the amount of interest during 2018,2019 , and 2020 for the following note receivable: On June 30, 2018, Scotiabank loaned \(\$ 100,000\) to Heather Hutchison on a two-year, \(8 \%\) note.

2. Which party has a (an)

a. note receivable?

b. note payable? .

c. interest revenue?

d. interest expense?

3. How much in total would Scotiabank collect if Hutchison paid off the note early-say, on October 31, 2018?