Shamrock Inc. had the following long-term receivable account balances at December 31, 2016.

Note receivable from sale of division	$1,200,000
Note receivable from officer	437,000

Transactions during 2017 and other information relating to Shamrock?s long-term receivables were as follows.

1.	The $1,200,000note receivable is dated May 1, 2016, bears interest at10%, and represents the balance of the consideration received from the sale of Shamrock?s electronics division to New York Company. Principal payments of $400,000plus appropriate interest are due on May 1, 2017, 2018, and 2019. The first principal and interest payment was made on May 1, 2017. Collection of the note installments is reasonably assured.
2.	The $437,000note receivable is dated December 31, 2016, bears interest at9%, and is due on December 31, 2019. The note is due from Sean May, president of Shamrock Inc. and is collateralized by10,925shares of Shamrock?s common stock. Interest is payable annually on December 31, and all interest payments were paid on their due dates through December 31, 2017. The quoted market price of Shamrock?s common stock was $45per share on December 31, 2017.
3.	On April 1, 2017, Shamrock sold a patent to Pennsylvania Company in exchange for a $139,000zero-interest-bearing note due on April 1, 2019. 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, 2017, was13%. The present value of $1 for two periods at13% is0.783(use this factor). The patent had a carrying value of $55,600at January 1, 2017, and the amortization for the year ended December 31, 2017, would have been $11,120. The collection of the note receivable from Pennsylvania is reasonably assured.
4.	On July 1, 2017, Shamrock sold a parcel of land to Splinter Company for $186,200under an installment sale contract. Splinter made a $55,860cash down payment on July 1, 2017, and signed a4-year12% note for the $130,340balance. The equal annual payments of principal and interest on the note will be $43,450payable on July 1, 2018, through July 1, 2021. The land could have been sold at an established cash price of $186,200. The cost of the land to Shamrock was $136,200. Circumstances are such that the collection of the installments on the note is reasonably assured.

Question 10 Shamrock Inc. had the following long-term receivable account balances at December 31, 2016. Note receivable from sale of division Note receivable from officer $1,200,000 437,000 Transactions during 2017 and other information relating to Shamrock's long-term receivables were as follows. 1 . 2 . 3 . 4 . The $1,200,000 note receivable is dated May 1, 2016, bears interest at 10%, and represents the balance of the consideration received from the sale of Shamrock's electronics division to New York Company. Principal payments of $400,000 plus appropriate interest are due on May 1, 2017, 2018, and 2019. The first principal and interest payment was made on May 1, 2017. Collection of the note installments is reasonably assured. The $437,000 note receivable is dated December 31, 2016, bears interest at 9%, and is due on December 31, 2019. The note is due from Sean May, president of Shamrock Inc. and is collateralized by 10,925 shares of Shamrock's common stock. Interest is payable annually on December 31, and all interest payments were paid on their due dates through December 31, 2017. The quoted market price of Shamrock's common stock was $45 per share on December 31, 2017. On April 1, 2017, Shamrock sold a patent to Pennsylvania Company in exchange for a $139,000 zero-interest-bearing note due on April 1, 2019. 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, 2017, was 13%. The present value of $1 for two periods at 13% is 0.783 (use this factor). The patent had a carrying value of $55,600 at January 1, 2017, and the amortization for the year ended December 31, 2017, would have been $11,120. The collection of the note receivable from Pennsylvania is reasonably assured. On July 1, 2017, Shamrock sold a parcel of land to Splinter Company for $186,200 under an installment sale contract. Splinter made a $55,860 cash down payment on July 1, 2017, and signed a 4-year 12% note for the $130,340 balance. The equal annual payments of principal and interest on the note will be $43,450 payable on July 1, 2018, through July 1, 2021. The land could have been sold at an established cash price of $186,200. The cost of the land to Shamrock was $136,200. Circumstances are such that the collection of the installments on the note is reasonably assured. Prepare the long-term receivables section of Shamrock's balance sheet at December 31, 2017. (Round answers to 0 decimal places, e.g. 5,125.) SHAMROCK INC. Long-Term Receivables Section of Balance Sheet December 31, 2017 $ Note receivable fromsale of division Note receivable fromofficer Note receivable fromsale of patent Installment contract receivable $ Total long-termreceivables LINK TO TEXT Prepare a schedule showing the current portion of the long-term receivables and accrued interest receivable that would appear in Shamrock's balance sheet at December 31, 2017. (Round answers to 0 decimal places, e.g. 5,129.) SHAMROCK INC. Selected Balance Sheet Balances December 31, 2017 Current portion of long-termreceivables $ Note receivable fromsale of division Installment contract receivable $ Total current portion of long-termreceivables Accrued interest receivable $ Note receivable fromsale of division Installment contract receivable $ Total accrued interest receivable LINK TO TEXT Prepare a schedule showing interest revenue from the long-term receivables that would appear on Shamrock's income statement for the year ended December 31, 2017. (Round answers to 0 decimal places, e.g. 5,125.) SHAMROCK INC. Interest Revenue from Long-Term Receivables For the Year Ended December 31, 2017 Interest revenue $ Note receivable fromsale of division Note receivable fromsale of patent Note receivable fromofficer Installment contract receivable $ Total accrued interest receivable