On May $2,$ Pharoah Company lends $$8,000$ to Chang, Inc, issuing a $6-$month, $896$ nate. At the Navamber $2,$ maturity date, Chanz

indicates that it cannot pay. Parts b and $c$ are indepandent assumptions.

$($a$)$

Your Answar

Correct.Answar $($Used$)$

Prepars the entry to record the issuance of the nate. $($Credit account titiles are automatically indented when amount is entered. Do not

indent manually.$)$

Date

Account Titles and Explanation

Debit

Credit

eTextbook and Medla

List of Accounts

$($b$)$

Prepare the entry to record the dishonor of the note, assuming that Pharoah Company expects collection will occur. $($Credit

account titles are cutomatically indented when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Nov.

$2$