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Entries for notes payable Bennett Enterprises issues a $480,000, 60-day, 6%, note to Spectrum Industries for merchandise Inventory. Assume a 360-day year. If required, round

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Entries for notes payable Bennett Enterprises issues a $480,000, 60-day, 6%, 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. 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. 2

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