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Entries for notes payable Bennett Enterprises issues a $504,000, 30-day, 9%, 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 $504,000, 30-day, 9%, note to Spectrum Industries for merchandise inventory. Assume a 360-day year. If required, round your answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Journalize Bennett Enterprises' entriess to record: 1. the issuance of the note. 2. the payment of the note at maturity. 1. 2. b. Journalize Spectrum Industries' entries too record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 1. 2

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