Entries for notes payable

Bennett Enterprises issues a $$732,000,30-$day, $8\%,$ 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:

the issuance of the note.

the payment of the note at maturity.

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

b$.$ Journalize Spectrum Industries entries to record:

the receipt of the note.

the receipt of the payment of the note at maturity.

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$

$$