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Entries for Notes Payable Laughlin Enterprises issues a $130,000, 45-day, 6% note to Morrison Industries for merchandise Inventory Assume a 360-day year. If an amount

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Entries for Notes Payable Laughlin Enterprises issues a $130,000, 45-day, 6% note to Morrison Industries for merchandise Inventory Assume a 360-day year. If an amount box does not require an entry, leave it blank. a. Journalize Laughlin Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. 1. 2. b. Journalize Morrison Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity 1. 2. Entries for Notes Payable A business issued a 45-day, 6% note for $210,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. If an amount box does not require an entry, leave it blank. a. b

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