On December 31, 2020, Sparky Consulting Inc., received two notes from customers in exchange for services rendered.

• The first note from Desert Corp. is a two-year, $10,000 note with a 4% stated rate. Interest is due each December 31 beginning December 31, 2021, and principal is due December 31, 2022.
• The second note is a two-year, noninterest-bearing note with a face value of $7,000 from Tucson Inc.Principal and interest will be paid at maturity.
• The market rate for similar notes from both customers is 8% on December 31, 2020.

Q1: What amounts should be Desert Note Receivable carrying value at Dec 31, 2020, balance sheet?

Q2: What amounts should be Tucson Note receivable carrying value at Dec 31, 2020, balance sheet?