Entries for notes payable Bennett Enterprises issues a $624,000, 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: 1. the issuance of the note. 2. the payment of the note at maturity. 1. Inventory Notes Payable 624,000 624,000 2. Notes Payable 624,000 Interest Expense 3,120 Cash 627,120 b. Journalize Spectrum Industries' entries to record: 1. 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 2