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1. Compute the amount of interest during 2018, 2019, and 2020 for the following note receivable: On May 31, 2018, Trenton Bank loaned $210,000 to

1. Compute the amount of interest during 2018, 2019, and 2020 for the following note receivable: On May 31, 2018, Trenton Bank loaned $210,000 to Alan Maine on a two-year, 10% note. 2. Which party has a(n): (a) note receivable? (b) note payable? (c) interest revenue? (d) interest expense? 3. How much in total would Trenton Bank collect if Alan Maine paid off the note early on November 30, 2018? 2018 2019 2020

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