Desrosiers Ltd. had the following long-term receivable account balances at December 31, 2022. Transactions during 2023 and other information relating to Desrosiers's long-term receivables were as follows: 1. The $1,800,000 note receivable is dated May 1,2022 , bears interest at 9%, and represents the balance of the consideration received from the sale of Desrosiers's electronics division to New York Company. Principal payments of $600,000 plus appropriate interest are due on May 1, 2023, 2024, and 2025. The first principal and interest payment was made on May 1 , 2023. Collection of the note installments is reasonably assured. 2. The $400,000 note receivable is dated December 31,2022 , bears interest at 8%, and is due on December 31,2025 . The note is due from Marcia Lumby, president of Desrosiers, and is secured by 10,000 Desrosiers common shares. Interest is payable annually on December 31, and the interest payment was made on December 31, 2023. The quoted market price of Desrosiers's common shares was $45 per share on December 31,2023. 3. On April 1, 2023, Desrosiers sold a patent to Pinot Company in exchange for a $200,000 non-interest-bearing note due on April 1, 2025. 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, 2023, was 12%. The present value of $1 for two periods at 12% is 0.79719 (use this factor). The patent had a carrying amount of $40,000 at January 1,2023 , and the amortization for the year ended December 31,2023 , would have been $8,000. The collection of the note receivable from Pinot is reasonably assured. 4. On July 1, 2023, Desrosiers sold a parcel of land to Four Winds Inc. for $200,000 under an installment sale contract. Four Winds made a $60,000 cash down payment on July 1,2023 , and signed a four-year, 11% note for the $140,000 balance. The equal annual payments of principal and interest on the note will be $45,125, payable on July 1,2024 , through July 1,2027. The land could have been sold at an established cash price of $200,000. Desrosiers had paid $150,000 for the land when it purchased it. Collection of the installments on the note is reasonably assured. 5. On August 1, 2023, Desrosiers agreed to allow its customer, Saini Inc., to substitute a six-month note for accounts receivable of $200,000 it owed. The note bears interest at 6% and principal and interest are due on the note's maturity date. Determine the portion of the note and any interest that should be reported in current assets at December 31,2023 . (Round answers to 0 decimal places, e.g. 9,871. Do not leave any answer field blank. Enter 0 for amounts.) Current portion of 9% notes receivable $ Current portion of 8% notes receivable $ Non-interest-bearing note receivable $ Current portion of installment contract \$ Note receivable from customer Total current notes and interest $
