Bennett Enterprises issues a $550,000, 45 day, 4 note to Spectrum Industries for merchandise inventory Required A Journalize Bennett Enterprises entries to record (refer to the companys Chart of Accounts for exact wording of account titles) 1 the issuance of the note 2 the payment of the note at maturity Assume a 360 day year B Journalize Spectrum Industries entries to record (refer to the companys Chart of Accounts for exact wording of account titles) 1 the receipt of the note 2 the receipt of the payment of the note at maturity Assume a 360 day year A Journalize Bennett Enterprises entries to record (refer to the companys Chart of Accounts for exact wording of account titles) 1 the issuance of the note on January 1 2 the payment of the note at maturity on February 15 Assume a 360 day year and round amounts to the nearest whole dollar Instructions Bennett Enterprises issues a $550,000, 45 day, 496 note to Spectrum Industries for merchandise inventory Required A Journalize Bennett Enterprises' entries to record (refer to the company's Chart of Accounts for exact wording of account titles) 1 the issuance of the note 2 the payment of the note at maturity Assume a 360 day year B Journalize Spectrum Industries' entries to record (refer to the company's Chart of Accounts for exact wording of account titles) 1 the receipt of the note 2 the receipt of the payment of the note at maturity Assume a 360 day year

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Bennett Enterprises issues a $550,000, 45-day, 4% note to Spectrum Industries for merchandise inventory. Required: A. Journalize Bennett Enterprises entries to record (refer to the

Bennett Enterprises issues a $550,000, 45-day, 4% note to Spectrum Industries for merchandise inventory. Required: A. Journalize Bennett Enterprises entries to record (refer to the companys Chart of Accounts for exact wording of account titles): 1. the issuance of the note. 2. the payment of the note at maturity. Assume a 360-day year. B. Journalize Spectrum Industries entries to record (refer to the companys Chart of Accounts for exact wording of account titles): 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. Assume a 360-day year.

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Journalize Bennett Enterprises entries to record (refer to the companys Chart of Accounts for exact wording of account titles):

the issuance of the note on January 1.

the payment of the note at maturity on February 15. Assume a 360-day year and round amounts to the nearest whole dollar.

Instructions Bennett Enterprises issues a $550,000, 45-day, 496 note to Spectrum Industries for merchandise inventory. Required: A. Journalize Bennett Enterprises' entries to record (refer to the company's Chart of Accounts for exact wording of account titles) 1. the issuance of the note. 2. the payment of the note at maturity. Assume a 360-day year B. Journalize Spectrum Industries' entries to record (refer to the company's Chart of Accounts for exact wording of account titles) 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. Assume a 360-day year