please explain the following

Use the following information for questions 8 to 9. The balance sheet for the Dixie Corporation on December 31, 2007 includes the following receivables balances: Notes Receivable P365,000 Less notes discounted 155,000 P210,000 C. Accounts Receivable P856,000 Less allowance for doubtful accounts 41,500 814,500 Selected ransactions during 2008 included the following: a. Notes received in settlement of accounts totaled P825,000. b. Notes receivable discounted as of December 31, 2007, were paid at maturity with the exception of one P30,000 note on which the company had to pay the bank P30,900, which included interest and protest fees. It is expected that recovery will be made on this note early 2009. Customers' notes of P600,000 were discounted with recourse during the year, proceeds from their transfer being P585,000. Of this total, P480,000 matured during the year without notice of protest. h. Notes receivable collected during the year totaled P270,000 and interest collected was P24,500. Determine the adjusted balances of the following accounts as of December 31, 2008: 8. Notes Receivable (including notes receivable discounted). a. P320,000 b. P365,000 c. P165,000 d. P285,000 9. Notes Receivable Discounted a. P155,000 b. P600,000 c. P120,000 d. P105,000