Mark$$s on the Park $($MOP$)$ is a highly successful restaurant known for their weekend brunch. Given the success of the restaurant, one of Mark$$s friends, Mr$.$ Lowe, asked for some financial help to open a similar restaurant in a nearby town. The following events relate to the loan from MOP to Mr$.$ Lowe:

On March $1,$ Year $1,$ MOP loaned Mr$.$ Lowe $$60,000$ for one year at $5$ percent interest.

On December $31,$ Year $1,$ MOP recognized accrued interest on the loan.

On March $1,$ Year $2,$ MOP recognized accrued interest.

On March $1,$ Year $2,$ MOP recognized the collection of the note including all interest.

Required

What is Benz$$s interest income for Year $1?$

What is Benz$$s total amount of receivables at December $31,$ Year $1?$

How will the loan and interest be reported on Benz$$s Year $1$ statement of cash flows?

What is Benz$$s interest income for Year $2?$

What is the total amount of cash that Benz$$s will collect in Year $2$ from Mark Henry?

How will the loan and interest be reported on Benz$$s Year $2$ statement of cash flows?

What is the total amount of interest that Benz$$s earned on the loan to Mark Henry?