Golden Hamburgers Ltd$.($GHL$)$ is a chain of fast$-$food restaurants. A few ears ago, the company decided it didn't want to own any new restaurants. Instead. when a new restaurant opens up$.$ it is owned by a franchisee rather than the compan. A franchisee is an individual investor who owns the land, building, furniture, and other assets and operates the restaurant. In return, the franchisee pays GHL a royalty fee, based on a percentage of sales, for the right to use the GHL name and products under a franchise agreement. If the franchisee needs funds to help build the restaurant, they can borrow money from GHL for a one$-$year period by signing a note receivable to GHL$.$

Selected items from the $2024$ GHL financial statements along with comparative amounts from $2023$ are shown below $($in thousands of dollars$)$:

Cash

Accounts receivable

Allowance for doubtful accounts

Notes receivable

Inventory at company$-$operated stores

Total current assets

Current liabilities

Net credit sales

$2024$

$$1\mathrm{.}578\mathrm{.}000$

$6040000$

$(400\mathrm{.}00012710\mathrm{.}000$

$1\mathrm{.}000\mathrm{.}000$

$10928\mathrm{.}000$

$6830\mathrm{.}000$

$59\mathrm{.}580\mathrm{.}000$

$2023$

$$2\mathrm{.}680\mathrm{.}000$

$5\mathrm{.}020\mathrm{.}000$

$(500000)$

$2\mathrm{.}000\mathrm{.}000$

$1\mathrm{.}100\mathrm{.}000$

$10\mathrm{.}300000$

$5150000$

$49810000$ Accounts receivable consist only of royalties receivable from franchisees. During $2024,$ accounts receivable amounting to $$100,000$ were written off.

The notes receivable are from franchisees and are due within one year. During $2024,$ notes amounting to $$1,644,000$ were received from new franchise operators and these are still outstanding. Also during $2024,$ notes of $$934,000$ were collected in full. A number of notes were dishonoured during the year, but the company's new vice$-$president of finance believes that all of these will be recoverable.

In the past, no dishonoured note has ever been collected.

The companv's bank requires GHL to maintain a current ratio of $1\mathrm{.}5$:$1.$ Reconstruct the Allowance for Expected Credit Losses and Notes Receivable accounts.