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14 of 14 View Policies -/10 Current Attempt in Progress On May 2, Tamarisk Company lends $9,900 to Chang, Inc., issuing a 6-month, 6% note.
14 of 14 View Policies -/10 Current Attempt in Progress On May 2, Tamarisk Company lends $9,900 to Chang, Inc., issuing a 6-month, 6% note. At the November 2, maturity date, Chang indicates that it cannot pay. Parts b and c are 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 May 2 Debit Credit eTextbook and Media List of Accounts Save for Later Attempts: 0 of 1 used Submit Answer Question 14 of 14 < (b) eTextbook and Media List of Accounts Save for Later -/10 E Attempts: 0 of 1 used Submit Answer Prepare the entry to record the dishonor of the note, assuming that Tamarisk Company expects collection will occur. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Nov. 2 eTextbook and Medial List of Accounts) Save for Later Debit Credit Attempts: 0 of 1 used Submit Answer Save for Later Attempts: 0 of 1 used Submit Answer (c) Prepare the entry to record the dishonor of the note, instead assuming that Tamarisk Company does not expect collection in the future. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation 7 Nov. 2 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 1 used Submit
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