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EX 10-2 Entries for notes payable I Obj. 1 Bennett Enterprises issues a $600,000, 120-day, 4% note to Spectrum Industries for merchandise inventory. a.

EX 10-2 Entries for notes payable I Obj. 1 Bennett Enterprises issues a $600,000, 120-day, 4% note to Spectrum Industries for merchandise inventory. 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.

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