CAN SOMEONE HELP ME PREPARE AN ENTRY TABLE? On May 2, Blossom Company lends $8,400 to Chang, Inc., issuing a 6-month, 12% note. At the maturity date, November 2, Chang indicates that it cannot pay. Prepare the entry to record the issuance of the note. (Credit account titles are automatically indented when amount is entered. Donot indent manually.)DateAccount Titles and ExplanationDebitCreditMay2eTextbook and MediaList of AccountsAttempts: unlimited Submit AnswerSave for Later(b)Prepare the entry to record the dishonor of the note, assuming that Blossom Company expects collection will occur. (Creditaccount titles are automatically indented when amount is entered. Do not indent manually.)Date Account Titles and ExplanationDebitCreditNov.2 (c)Prepare the entry to record the dishonor of the note, assuming that Blossom Company does not expect collection in the future.Blossom Company uses the allowance method to write off uncollectible accounts. (Credit account titles are automatically indentedwhen amount is entered. Do not indent manually.)Date Account Titles and ExplanationDebitCreditNov.

a Date Particulars Debit Credit May 2 Note Receivable 8400 To Cash 8,400 (To record…

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Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter3: Review Of A Company's Accounting System

Section: Chapter Questions

Problem 10RE: Use the information in RE3-6, (a) assuming Ringo Company makes reversing entries, prepare the...

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Question

CAN SOMEONE HELP ME PREPARE AN ENTRY TABLE?

On May 2, Blossom Company lends $8,400 to Chang, Inc., issuing a 6-month, 12% note. At the maturity date, November 2, Chang indicates that it cannot pay.

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
Debit
Credit
May
2
eTextbook and Media
List of Accounts
Attempts: unlimited Submit Answer
Save for Later
(b)
Prepare the entry to record the dishonor of the note, assuming that Blossom Company expects collection will occur. (Credit
account titles are automatically indented when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Nov.
2

(c)
Prepare the entry to record the dishonor of the note, assuming that Blossom Company does not expect collection in the future.
Blossom Company uses the allowance method to write off uncollectible accounts. (Credit account titles are automatically indented
when amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Nov.

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