Answer:
Alpha Co.'s note should be reported at $10,000
Omega Co.'s note should be reported at $8,570
Step-by-step explanation:
Notes receivables that represent current accounts (due within one year) should be reported at face value. Alpha's note is due in nine months, so it should be reported at = $10,000
Omega's note must be recorded at present value because it is due in 2 years.
present value = future value x 8% discount rate for 2 years = $10,000 x 0.857 = $8,570