Question: Uw Me How Entries for notes payable Bennett Enterprises issues a $492,000, 30-day, 9%, note to Spectrum Industries for merchandise inventory Assume a 360-day year.

Uw Me How Entries for notes payable Bennett Enterprises issues a $492,000, 30-day, 9%, 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. 2. . 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. Previous 2. I10 I Cash b. Interest Expense dustries' entries to record: Interest Receivable bte. Notes Receivable ayment of the note at maturity. Sales 1. Il 100 2

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