Show Me How Calculator Print tem Entries for notes payable Bennett Enterprises issues a $540,000, 45-day, 7%, note to Spectrum Industries for merchandise inventory Assume a 360-day year. If required, round your answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. a. Journalize Bennett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. Inventory Notes Payable Notes Payable Interest Expense Cash Crea My Won If you were the borrower how much would you be leaving with in proceeds? What does the liability always have to be recorded at Learning Objective 1. Check My Work Previous Next > 3:17 PM W 400 11/18/2019