Question: please help me with a b and c On May 2, Marigold Company lends $9.500 to Chang, Inc., issuing a 6-month, 8% note. At the

On May 2, Marigold Company lends $9.500 to Chang, Inc., issuing a 6-month, 8% note. At the November 2, maturity date. Chang indicates that it cannot pay. Parts and care independent assumptions. (a) Prepare the entry to record the issuance of the note. (Credit account titles are automatically indented when amount is entered. Do not Indent manually.) Date Account Titles and Explanation Debit Credit May 2 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 1 used Submit Answer (5) Prepare the entry to record the dishonor of the note, assuming that Marigold Company expects collection will occur. (Credit account titles are automatically indented when amount is entered. Do not Indent manually) Prepare the entry to record the dishonor of the note, assuming that Marigold Company expects collection will occur. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Nov. 2 e Textbook and Media List of Accounts Attempts: 0 of 1 used Submit Answer Save for Later (c). Prepare the entry to record the dishonor of the note, instead assuming that Marigold Company does not expect collection in the future. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Nov. 2
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
