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Entries for notes payable Bennett Enterprises issues a $720,000,60-day, 9%, 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: 1. the issuance of the note. 2. the payment of the note at maturity. b. Journalize Spectrum Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. On June 30 , Collins Management Company purchased land for $560,000 and a building for $840,000, paying $700,000 cash and issuing a 8% note for the balance, secured by a mortgage on the property. The terms of the note provide for 20 semiannual payments of $35,000 on the principal plus the interest accrued from the date of the preceding payment. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. a. Journalize the entry to record the transaction on June 30 . June 30 b. Journalize the entry to record the payment of the first installment on December 31 . De Feedback Check My Work c. Journalize the entry to record the payment of the second installment the following June 30 . Jun