Question: Cosimo Enterprises issues a $260,000, 45-day, 5% note to Dixon Industries for merchandise inventory. a. Journalize Cosimo Enterprise entries to record 1. the issuance of

Cosimo Enterprises issues a $260,000, 45-day, 5% note to Dixon Industries for merchandise inventory.

a. Journalize Cosimo Enterprise entries to record

1. the issuance of the note.

2. the payment of the note at maturity.

b. Journalize Dixon 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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