Entries for notes payable

Bennett Enterpitses lssats a $$600,000,120-$day, $4\%$ note ta Soectrum Industries for merchandise inventory.

Assume a $360$ days in a year. if an amount box does not require an entry, leave it blank.

a$.$ Journailie Bennett Enkerprises' entries to record:

the issuance of the nobe.

the payment of the nobe at maturity.

$$ Noges payable $=x$

$$ mberent fxpenve x $$ X

$$

$$

$$ X $$

$$ X Anter Rnchahat! $x$ X $$

$$

$$ x

Tewtheck

F Chack Us Whet

If you were the bomower how much would you be ledung Soectrun Industries with in procetds? What does the labilty

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

the recept of the nofe.

the recoint if thin nowment of the innte at matirte

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

the receipt of the note.

the receipt of the payment of the note at maturity.

$$ X $$

$$ inb$-$rettexpense $=x$

$$

$$ Nemenerembie x $$

$$

$$

$$

$$

$$

$$

$$

fenter

robenw, wat

As the lender what have you eamed by doing business with Bennett teterphises? As the lender what mill you be receivi

Funtack

"Oneia Mr Won

Parlaly confect