Uli Corporation adjusts its books monthly. On September 30, 2021, notes receivable include the following:

Issue Date Maker Principal Interest Term Mar. 31, 2021 RES Inc. $17,600 6% 7 months May 31, 2021 Ihara Ltd. 18,200 4% 18 months Aug. 31, 2021 Dragon Limited 6,400 7% 2 months Sept. 30, 2021 MGH Corp. 20,100 5% 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 for Doubtful Notes account is nil. In October, the following selected transactions were completed.

Oct. 1 Received the interest due from Ihara. 31 Received notice that Dragon was unable to pay its note as scheduled. It expects to be able to pay in the future. 31 The RES note matured and was received in full. 31 Accrued interest on the Ihara and MGH notes. 31 Analyzed the remaining notes for collectibility. Estimated that $18,200 of notes may not be collectible in the future because of significant labour issues currently being experienced by Ihara.