Laughlin Enterprises issues a $130,000, 45-day, 6% note to Morrison Industries for merchandise inventory.

Assume a 360-day year. If an amount box does not require an entry, leave it blank.

a. Journalize Laughlin Enterprises entries to record:

1. the issuance of the note.
2. the payment of the note at maturity.

1.	Interest Revenue	fill in the blank c2ce46016fd0fd4_2	fill in the blank c2ce46016fd0fd4_3
	Interest Revenue	fill in the blank c2ce46016fd0fd4_5	fill in the blank c2ce46016fd0fd4_6
2.	Cash	fill in the blank c2ce46016fd0fd4_8	fill in the blank c2ce46016fd0fd4_9
	Cash	fill in the blank c2ce46016fd0fd4_11	fill in the blank c2ce46016fd0fd4_12
	Interest Revenue	fill in the blank c2ce46016fd0fd4_14	fill in the blank c2ce46016fd0fd4_15

b. Journalize Morrison Industries entries to record:

1. the receipt of the note.
2. the receipt of the payment of the note at maturity.

1.	FILL IN THE BLANK________	fill in the blank e67ffbfe9fdf06e_2	fill in the blank e67ffbfe9fdf06e_3
	FILL IN THE BLANK________		fill in the blank e67ffbfe9fdf06e_6
2.	FILL IN THE BLANK________		fill in the blank e67ffbfe9fdf06e_9
	FILL IN THE BLANK________		fill in the blank e67ffbfe9fdf06e_12
	FILL IN THE BLANK________		fill in the blank e67ffbfe9fdf06e_15

The options for the 1st column are:

- cash

- interest revenue

- merchandise inventory

- notes payable

- notes receivable