On M,i\ 2, Maple Park Company lends $6,600 to Cortland. Inc.. issuing a 6-month. 9%

note. At the maturit) date. November 2. Cortland indicates that it cannot pay.

Instructions

(a) Prepare the entry to record the issuance of the note.

(b) Prepare the entry to record the dishonor of the note, assuming that Maple Park Company expects collection will occur.

(c) Prepare the entry to record the dishonor of the note, assuming that Maple Park Company does not expect collection in the future.