A B C D E F G H 1 Receivables and Revenue 2 Account for notes receivable 3 4 On May 31, 2024, Wyoming State Bank loaned money to Lindsey Weston on a note with the following features: 5 6 7 Loan value Maturity (years) Interest rate $ 240,000 2 8% J 8 9 10 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or if you type the 11 numbers in, you will be marked wrong. 12 13 Requirements 14 1 Calculate the amount of interest during 2024, 2025, and 2026 for the note receivable. 15 a. Enter all amounts as positive values. 16 b. Do not round intermediate calculations. 17 18 19 20 2 Determine which party has a note receivable, a note payable, an interest revenue, an interest expense. 3 How much in total would Wyoming State Bank collect if Lindsey Weston paid off the note early on October 31, 2024? a. Enter the amount as a positive value. (second excel page) A B C D E F G H 1 1. Calculate the amount of interest during 2024, 2025, and 2026 for the note receivable. (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or if you type the numbers in, you will be marked wrong.) 2 3 4 Year 5 2024 6 2025 7 2026 8 Interest amount 9 2. Determine which party has a note receivable, a note payable, an interest revenue, an interest expense. 10 11 Note receivable 12 Note payable 13 Interest revenue 14 Interest expense 15 16 3. How much in total would Wyoming State Bank collect if Lindsey Weston paid off the note early on October 31, 2024? (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab or if you 17 type the numbers in, you will be marked wrong.) 18 19 Total payoff on October 31, 2024 20 21