P8-8B Kitimat Corporation adjusts its books monthly. On November 30, 2015, notes receivable include the following: Issue Date Mar. 31, 2015 May 31, 2015 Aug. 31, 2015 Sept. 30, 2015 Maker Kootenay Inc. Cassiar Ltd. Namu Limited Siska Corp Principal $17,000 15,000 6,000 20,000 Interest 5% 4% Term 9 months 18 months 4 month:s 16 months 5% Interest is due at maturity for the Kootenay and Namu notes. Interest is due on the first day of each month for the Cassiar and Siska notes. At November 30, the balance in the Allowance for Doubtful Notes account is nil. In December, the following selected transactions were completed. Dec. Received the interest due from Cassiar and Siska 1 31 Received notice that Namu was unable to pay its note as scheduled. It does not expect to be able to pay in the future 31 The Kootenay note matured and was received in full 31 Accrued interest on the Cassiar and Siska notes 31 Analyzed the remaining notes for collectibility. Estimated that $20,000 of notes may not be collectible in the future because of significant economic issues currently being experienced by Siska