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Please answer both A and B and it is technically one question:) Thank you so much for your time! Have a great day. Bennett Enterprises
Please answer both A and B and it is technically one question:) Thank you so much for your time! Have a great day.
Bennett Enterprises issues a $600,000,90-day, 4% note to Spectrum Industries for merchandise inventory. Required: A. Journalize Bennett Enterprises' entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note. 2. the payment of the note at maturity. Assume a 360-day year. B. Journalize Spectrum Industries' entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. Assume a 360-day year. B. Journalize Spectrum Industries' entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the receipt of the note on January 1. 2. the receipt of the payment of the note at maturity on April 1. Assume a 360-day year and round amounts to the nearest whole dollar A. Journalize Bennett Enterprises' entries to record (refer to the company's Chart of Accounts for exact wording of account titles): 1. the issuance of the note on January 1. 2. the payment of the note at maturity on April 1. Assume a 360-day year and round amounts to the nearest whole dollarStep by Step Solution
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