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On May 2, Blossom Company lends $9,100 to Chang. Inc, issuing a 6-month, 6% note. At the maturity date, November 2, Chang indicates that it
On May 2, Blossom Company lends $9,100 to Chang. Inc, issuing a 6-month, 6% note. At the maturity date, November 2, Chang indicates that it cannot pary. (a) Prepare the entry to record the issuance of the note. (Credit account tities are automaticolly indented when amount is entered. Do not Indent manually) Prepare the entry to record the dishonor of the note, assuming that Blossom Company does not expect collection in the future (Credit occount tities are automatically indented when amount is entered. Do not indent manuallyd) Prepare the entry to record the dishonor of the note, assuming that Blossom Company expects collection will occur. (Credit occount titles are automatically indented when amount is entered. Do not indent manually.)
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