C. On 1 January 2020, Nothing Else Ehd (NEE) had Accounts Receivable RM2?8,000, Notes Receivable RM0,000 and Allowance for Doubtful Accounts RM26,400. NEE prepares nancial statements annually at 31 December. During the year, the following selected transactions occurred: 20 January 2020 20 February 2020 19 May 2020 25 August 2020 25 November 2020 NEE sold RM48,000 of merchandise to Matters Ehd (MB), terms ni'30. ME forwarded a notice to NEE asking for longer credit period for the sales amounting RM48,000 in previous month. NEE agreed to extend the credit period and convert the remaining balance of account receivable to 9%, 90-day note receivable. NEE managed to collect MB note receivable in full. NEE converted a RM8,000 account receivable of Wayward Ehd MB) to 7%, 90-day note receivable in settlement of a past due balance on account. The WE note receivable was dishonored. WE is not bankrupt and future payment is anticipated