Bennett Enterprises issues a $$924,000,45-$day, $6\%,$ 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:

the issuance of the note.

the payment of the note at maturity.

Notes Payable $$

Notes Payable

Interest Expense $$

Feedback

Check My Work

If you were the borrower how much would you be leaving Spectrum Industries with in proceeds? What does the liability always have

b$.$ Journalize Spectrum Industries' entries to record:

the receipt of the note.

the receipt of the payment of the note at maturity.

Notes Receivable

Notes Receivable $$

Interest Revenue $$