The notes receivable held by the Tuttle Company on August 3, 2019, are summarized below. On August 4, 2019, Tuttle discounted all of these notes at Community Bank and Trust at a discount rate of 12 percent.

Note No.	Date			Face Amount				Period		Interest Rate
31	Apr.	4,	2019		$	49,000		6	months		8	%
32	June	11,	2019			14,700		120	days		7	%
33	July	31,	2019			11,600		60	days		12	%

Required: Compute the net proceeds received from discounting each note. Analyze: What is the net interest income or expense to be reported from these transactions assuming all notes are paid when due?