On July 1, 2020, Big Corp. sold a parcel of land to Four Winds Inc. for $200,000 under an instalment sale contract. Four Winds made a $60,000 cash down payment on July 1, 2020, 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, 2021, through July 1, 2024. The land could have been sold at an established cash price of $200,000. Collection of the instalments on the note is reasonably assured. Calculate interest income related to this note for 2020. Determine how the note and interest should be presented on the 2020 balance sheet.

Date	(A) Cash Receivable	(B) Interest Income	(C) Principal received = (A) - (B)	NotesReceivableCarryingAmount
7/1/2020				$140000
7/1/2021	$45125