Bennett Enterprises issues a $396,000, 45-day, 8%, note to Spectrum Industries for merchandise inventory.

Assume a 360-day year. If required, round your answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Journalize Bennett Enterprises entries to record:

1. the issuance of the note.
2. the payment of the note at maturity.

1.		fill in the blank
			fill in the blank
2.		fill in the blank	fill in the blank
		fill in the blank	fill in the blank
		fill in the blank	fill in the blank

b. Journalize Spectrum Industries entries to record:

1. the receipt of the note.
2. the receipt of the payment of the note at maturity.

1.		fill in the blank
			fill in the blank
2.		fill in the blank	fill in the blank
		fill in the blank	fill in the blank
		fill in the blank	fill in the blank