entries for notes payable

Entries for notes payable Bennett Enterprises issues a $408,000, 30-day, 6%, note to Spectrum Industries for merchandise Inventory. Assume a 360-day year. If required, round your answers to the nearest dollar. For a compound transaction, 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. NI 100 b. Journalize Spectrum Industries' entries to records 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 2 NI