Ni Co. has the following notes receivable outstanding at December 31, 2014:

For notes with terms of one year or longer, interest is payable on the fi rst day of each month, for interest earned the previous month. For notes with terms less than one year, interest is payable at maturity.
Instructions
(a) Calculate the interest revenue that Ni Co. will report on its income statement for the year ended December 31, 2014. Indicate where this will be presented on the income statement. (Round calculations to the nearest dollar.)
(b) Calculate the amounts related to these notes that will be reported on Ni Co.'s balance sheet at December 31, 2014. Indicate where they will be presented. Assume all required interest payments have been received on time. (Round calculations to the nearest dollar.)

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al $15,000 46,000 32,000 22,000 9,000 Issue Date 1. August 31, 2013 2. October 1, 2013 3. February 1, 2014 4. May 31, 2014 5. October 31, 2014 2 years 18 months 1 year 5 years 7 months Interest Rate 4% 5% 4% 6% 5%