Bramble Corp. had the following long-term receivable account balances at December 31, 2019. Notes receivable Notes receivable - Employees $1,750,000 490,000 Transactions during 2020 and other information relating to Bramble' long-term receivables were as follows: 1. The $1,750,000 note receivable is dated May 1, 2019, bears interest at 9%, and represents the balance of the consideration received from the sale of Bramble's electronics division to Cullumber Company. Principal payments of $583,333 plus appropriate interest are due on May 1, 2020, 2021, and 2022. The first principal and interest payment was made on May 1, 2020. Collection of the note instalments is reasonably assured. 2. The $490,000 note receivable is dated December 31, 2019, bears interest at 9%, and is due on December 31, 2022. The note is due from Marcia Cumby, president of Bramble Corp., and is secured by 10,000 Bramble common shares. Interest is payable annually on December 31, and the interest payment was made on December 31, 2020. The quoted market price of Bramble' common shares was $50 per share on December 31, 2020. 3. On April 1, 2020, Bramble sold a patent to Oriole Company in exchange for a $200,000 non-interest-bearing note due on April 1, 2022. There was no established exchange price for the patent, and the note had no ready market. The prevailing rate of interest for a note of this type at April 1, 2020, was 10%. The present value of $1 for two periods at 10% is 0.82645 (use this factor). The patent had a carrying amount of $36,000 at January 1, 2020, and the amortization for the year ended December 31, 2020 would have been $7,000. The collection of the note receivable from Oriole is reasonably assured. 4. On July 1, 2020, Bramble sold a parcel of land to Marin Inc. for $240,000 under an instalment sale contract. Marin made a $59,000 cash down payment on July 1, 2020, and signed a four- year, 11% note for the $181,000 balance. The equal annual payments of principal and interest on the note will be $58,341, payable on July 1, 2021, through July 1, 2024. The land could have been sold at an established cash price of $230,000. Bramble had paid $150,000 for the land when it purchased it. Collection of the instalments on the note is reasonably assured. 5. On August 1, 2020, Bramble agreed to allow its customer, Saini Inc., to substitute a six-month note for accounts receivable of $230,000 it owed. The note bears interest at 6% and principal and interest are due on the note's maturity date. Cash inflows from notes 2021 2020 2022 2023 2023 2024 1.9% Note receivable Principal 583,333 583,333 583,333 Interest 157500 105000 52500 0 0 2.9% Note receivable Principal 0 0 490,000 0 0 44100 44100 44100 0 Interest 3. Non-interest-bearing note receivable Payment 4.Instalment contract receivable Down payment 200,000 59,000 0 0 0 0 0 Payment 5.6% Note receivable 58,341 58,341 58,341 58,341 Principal 0 230,000 0 0 Interest 0 6900 0 0 0 Total 843933 | 10276744 1428274 58,341 58,341 Determine the amount of interest income that should be reported in 2020. (Round answers to 0 decimal places, e.g. 8,971.) Note Receivable 157500 Note Receivable-Employees 44100 Zero-interest-bearing Note-Patent 165290 Instalment Contract-Sale of Land 59,000 Note Receivable - Saini 59,000 Total Interest Income reported in 2020 0 Determine the portion of the note and any interest that should be reported in current assets at December 31, 2020. (Round answers to 0 decimal places, e.g. 9,871. Do not leave any answer field blank. Enter o for amounts.) Current portion of 9% notes receivable 52500 Current portion of 9% notes receivable 0 Non-interest-bearing note receivable 0 Current portion of instalment contract 58,341 Note receivable from customer 52500 Total current notes and interest 52500 * Your answer is incorrect. Try again. Determine the portion of the note that should be reported as a long-term investment at December 31, 2020. (Round answers to 0 decimal places, e.g. 8,971.) Note receivable 52500 x Note receivable-Employees 44100 Zero-interest-bearing Note-Patent 52500 Instalment Contract-Sale of Land 58,341 Total long-term investment 52500 Prepare the long-term receivables section of Bramble statement of financial position at December 31, 2020. (Round answers to 0 decimal places, e.g. 8,971.) Bramble Corp. Long-Term Receivables Section of Statement of Financial Positon December 31, 2020 9% note receivable from sale of division 52500 9% note receivable from employees 44100 Zero-interest-bearing note from sale of patent i 52500 Instalment contract receivable 58,341 Total long-term receivables 52500 Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Bramble's statement of financial position at December 31, 2020. (Round answers to 0 decimal places, e.g. 8,971.) Bramble Corp. Selected Statement of Financial Positon Balances December 31, 2020 Note receivable from customer 44100 Current portion of long-term receivables: Note receivable from sale of division 44100 X Instalment contract receivable 44100 Total current portion of long-term receivables 44100 Accrued interest receivable: Note receivable from sale of division 44100 Instalment contract receivable 44100 Note receivable from customer 44100 X Total accrued interest receivable 44100 Determine the total interest income from the long-term receivables that would appear on Bramble's income statement for the year ended December 31, 2020. (Round answer to 0 decimal places, e.g. 8,971.) Total interest income for year ended 12/31/20 0