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On May 2, Pina Colada Corp lends $8,000 to Chang, Inc. issuing a 6-month, 10%...

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Accounting

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On May 2, Pina Colada Corp lends $8,000 to Chang, Inc. issuing a 6-month, 10% noto. At the maturity date, November 2, Chang indicates that it cannot pw. 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 Prepare the entry to record the dishonce of the note, assuming that Pina Colada Corp. expects collection will occur (Credit account title are automatically indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit Nov. 2 id Prepare the entry to record the dishonor of the note, assuming that Pitu Colada Corp 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 Debit Credit Now 2

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