Question: Entries for notes payable Bennett Enterprises issues a 5756,000,30-day, 2%, note to Spectrum industries for merchandise inventory. Assume a 360 -day year. If required, round
Entries for notes payable Bennett Enterprises issues a 5756,000,30-day, 2\%, note to Spectrum industries for merchandise inventory. Assume a 360 -day year. If required, round your answers to the nearest dollarif an amount box does not require an entry, leave it blank. a. Journalizoleetinett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. 1. 2. b. Journalize 5 pectrim 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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