On December 1, 2018, Belle Company assigned specific accounts receivable totaling 200,000 as a collateral on a 150,000, 12% note from a certain bank. Belle will continue to collect the assigned accounts receivable. In addition to the interest on the note, the bank also charged a 5% finance fee deducted in advance on the 150,000 value of the note.

The December collections of assigned accounts receivable amounted to 100,000 less cash discounts of 5,000. On December 31, 2018, Belle remitted the collections to the bank in payment for the interest accrued on December 31, 2018 and the note payable.

Required

1. Amount of cash received from the assignment of Accounts Receivable on December 1, 2018.

2. Carrying amount of Note Payable on December 31, 2018

3. Equity in assigned accounts of Belle on December 31, 2018