Question: i need help. Entries for notes payable Bennett Enterprises issues a $864,000, 60-day, 79%, note to Spectrum Industries for merchandise inventory. Assume a 360-day year.

i need help.

Entries for notes payable Bennett Enterprises issues a $864,000, 60-day, 79%, 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 v Notes Payable v 2. Notes Payable v Interest Expense Cash v Feedback b. Journalize Spectrum Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 1. Notes Receivable v Sales v 2. Cash Notes Receivable v Interest Revenue

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