EX 10-2. Entries for notes payable Obj. 1 Bennett Enterprises issues a $400,000, 90-day, 5% 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.