1. Bennett Enterprises issues a $816,000, 30-day, 8%, note to Spectrum Industries for merchandise inventory.

   Assume a 360-day year. If required, round your answers to the nearest dollar.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.

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   2.

   b. Journalize Spectrum Industries entries to record:

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

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   2.