Note Receivable

1.

Principal 3,600,000 x .7513 = 2, 704, 680

Interest 180,000x 2.4869 = 447,642
Consultation fee 3,152, 322

2.

Date Principal Interest Total PVF CA

Dec. 31 2,400,000 288,000 2,688,000 .8772 2,357,914 (r-off)
Dec. 31 2,400,000 192,000 2,592,000 .7695 1,994,544
Dec. 31 2,400,000 96,000 2,496,000 .6750 1,684,800
PV of notes 6,037,258
Land (4,800,000)
1,237,258

3-5
Notes receivable from sales of land

Date Interest income CA

1/1/15 2,181,960

12/31/ 15 218,196 2,400,156

12/31/16 239,844 2,640,000
10% 2yrs= 0.8265x 2, 640,000= 2,181, 960 CA

Notes from consultation

Date 10% Fv x 5% Amort. CA

1/1/15 3,152,322
12/31/15 315,232 180,000 135,232 3,287,554
12/31/16 328,755 180,000 148,755 3,436,309
12/31/17 343,691 180,000 163,691 3,600,000

Notes receivable from sale of equipment

Date Effect. Nomi. Amort. Principal CA

1/1/15 6,037, 258
12/31/15 845,216 288,000 557,216 2,400,000 4,194,474
12/31/16 587,226 192,000 395,226 2,400,000 2,189,700
12/31/17 306,300 96,000 210,300 2,400,000 0
3. 3,287,554
2,189,700
5,477,254

4. 2,400,156
2,004,774
(4,194,474-2,189,700)
4,404,930

5. 218,196
315,232
845,216
1,378,644