Financial Accounting, Seventh Canadian Edition by Kimmel, Weygandt, Kieso, Trenholm, Irvine, and Burnley Help 1 System Announcements PRINTER VERSION Problem 8-8A Laramie Corporation adjusts its books monthly. On September 30, 2018, notes receivable include the following: Term 7 months Issue Date Maker Mar. 31, 2018 RES Inc. May 31, 2018 Ihara Ltd. Aug. 31, 2018 Dragon Limited Sept. 30, 2018 MGH Corp. Principal Interest $16,000 5% 20,600 7% 5,300 8% 19,500 4% 18 months 2 months 16 months Interest is due at maturity for the RES and Dragon notes. Interest is due on the first day of the month for the Ihara and MGH notes. At September 30, the balance in the Allowance fc account is nil. In October, the following selected transactions were completed. Oct. 1 31 31 Received the interest due from Thara. Received notice that Dragon was unable to pay its note as scheduled. It expects to be able to pay in the future. The RES note matured and was received in full. Accrued interest on the Ihara and MGH notes. Analyzed the remaining notes for collectibility. Estimated that $20,600 of notes may not be collectible in the future because of significant labour issues currently being expe 31 31 Calculate the balance in the Interest Receivable and Notes Receivable accounts at September 30, 2018. (Round answers to 0 decimal places, e.g. 5,275.) Balance in the Interest Receivable $ Balance in the Notes Receivable $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT No