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On May 2, Ayayai Company lends $9,100 to Chang, Inc, issuing a 6 month, 12% note. At the November 2 , maturity date, Chang indicates

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On May 2, Ayayai Company lends $9,100 to Chang, Inc, issuing a 6 month, 12% 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 tities are automatically indented when amount is entered Do not Indent manualty.) Prepare the entry to record the dishonor of the note, assuming that Ayayai Company expects collection will occur, (Credit account titles are outomaticolly indented when amount is entered. Do not indent manually.) f N eTextbook and Media Prepare the entry to record the dishonor of the note, instead assuming that Ayayai Company does not expect collection in the future, (Credit account titles are outomatically indented when amount is entered. Do not indent manually.)

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