Question: Entries for notes payable Bennett Enterprises issues a $396,000, 60-day, 9%, note to Spectrum Industries for merchandise inventory. Assume a 360 days in a year.

Entries for notes payable Bennett Enterprises issues a $396,000, 60-day, 9%, note to Spectrum Industries for merchandise inventory. Assume a 360 days in a 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.

note to Spectrum Industries for merchandise inventory. Assume a 360 days in

Entries for notes payable Bennett Enterprises issues a $396,000,60-day, 9%, note to Spectrum Industries for merchandise inventory. Assume a 360 days in a 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. 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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