Problem 8-8A (Part Level Submission)

Tardif Corporation adjusts its books monthly. On September 30, 2015, notes receivable include the following:

I need help for finding the Balance In the Interest Receivable, I tried using (6 months, 4 months , 1 month, 0 month) =$916 & (6 months, 1 month , 1 month , 0 month)= $556 and the answers were wrong

Problem 8-8A (Part Level Submission) Tardif Corporation adjusts its books monthly. On September 30, 2015, notes receivable include the following Maker Principal Interest Term Issue Date Mar. 31, 2015 RES Inc. May 31, 2015 Ihara Ltd Aug. 31, 2015 Dragon Limited Sept. 30, 2015 MGH Corp 7 months 18 months 2 months 16 months $16,000 20,600 5% 7% 5,3008% 19,500 4% 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 for Doubtful Notes account is nil. In October, the following selected transactions were completed. Oct. 1 31 31 31 31 Received the interest due from Ihara and MGH 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 experienced by hara Your answer is partially correct. Try again. Calculate the balance in the Interest Receivable and Notes Receivable accounts at September 30, 2015. (Round answers to O decimal places, e.g. 5,275.) Balance in the Interest Receivable 556 Balance in the Notes Receivable 61400 Attempts: 1 of 2 used