Question: Exercise 9-15 a-c (Part Level Submission) On May 2, Kingbird Company lends $9,900 to Chang, Inc., using a 6-month, 12% note. At the maturity date,
Exercise 9-15 a-c (Part Level Submission) On May 2, Kingbird Company lends $9,900 to Chang, Inc., using a 6-month, 12% note. At the maturity date, November 2, Chang indicates that it cannot pay. (a) Your answer is correct Prepare the entry to record the issuance of the note. (Credit account titles are automatically indent Date Account Titles and Explanation May 2 Notes Receivable Do net indent manually Debit Cash Click if you would like to Show Work for this question HOW LEST OF ALCOUNTS (b) Your answer is partially correct. Try again. Prepare the entry to record the dishonor of the note, assuming that Kingbird Company expects collection will occur. (Credit account titles are automatically indented when amount is er Date Account Titles and Explanation Credit Nov. 2 Accounts Receivable Notes Receivable 9900 Interest Revenue Click if you would like to Show Work for this question: Qen Shew Work e W X
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