For each of the following notes receivables held by Christensen Company, determine the interest revenue to be reported on the income statements for the year ended December 31. Round answers to the nearest whole dollar. $$\begin{array}{lrcrr}\text{ Date }& \text{ Face }& \text{ Rate }& \text{ Term }& \text{ Interest Revenue }\\ \text{ Aug. }8& \$45,000& 7\%& 45\text{ days }& \\ \text{ Oct. 7 }& 62,000& 5& 60\text{ days }& \\ \text{ Jan. 6 }& 28,000& 4& 120\text{ days }& \\ \text{ Nov. 12 }& 43,000& 6& 60\text{ days }& \end{array}$$

Interest Revenue

Interest Revenue refers to the income earned by an entity from its lending activities or investments in interest-bearing assets.

Income Statements

These financial statements show a company's revenues, expenses, and profits over a specific period, providing insights into its financial performance.

Notes Receivables

Financial assets representing a right to receive payments from debtors under the terms of written promissory notes.