GO ALGO ALGO 4 2 ALGO 08 ALGO 03.ALGO 05 ALGO 08 ALGO .01 s: 11/16 items sunny Bennett Enterprises issues a $912,000, 60-day, 9%, 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 blam a. Journalize Bennett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. 1. Inventory 2. Notes Payable Notes Payable 1. b. Journalize Spectrum Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 2. Interest Expense

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Enterprises issues a 60 -day, 6% note for $800,000 to Hill Industries for merchandise inventory. InterestAmountreceivedbyHill=$800,0006%(60360)=$8,000=$800,000+$8,000=$808,000 Enterprises issues a 60 -day, 6% note for $800,000 to Hill Industries for merchandise inventory. InterestAmountreceivedbyHill=$800,0006%(60360)=$8,000=$800,000+$8,000=$808,000