On May 2, Swifty Company lends $11,600 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 titles are automatically indented when amount is entered Do not indent manually.) Date Account Titles and Explanation May 2 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: unlimited Submit Answer On May 2, Swifty Company lends $11,600 to Chang, Inc., issuing a 6-month, 12% note. At the November 2, maturity date, Chang indicates that it cannot pay. Parts b and care independent assumptions. (a) (b) Prepare the entry to record the dishonor of the note, assuming that Swifty 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 I Debit Credit On May 2, Swifty Company lends $11,600 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) (b) (c) Prepare the entry to record the dishonor of the note, instead assuming that Swifty 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 Nov. 2 Debit Credit