Question: (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.)

(Always use cell references and formulas where appropriate to receive full credit.

(Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong.) Item Case 1 Case 2 Case 3 Notes receivable, face value $ 900,000 $ 1,000,000 $ 2,000,000 Initial carrying value $ 901,819 Market rate 8% Stated rate 8% 7% 10% Term of bonds (in years) 20 5 Note receivable discount (153,244) Interest income over the note's term 1,200,000

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