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please answer questikns 1-3

Assume a 360 days in a year. If required, round your answers to the nearest dollar. If an amount box does not require an entry, leave it bilik. a. Journalize Bennett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. feedback rowalmy was If you were the borrower how much would you be leaving Spectrum Industries with in proceeds? What does the liability always have to be recorded at? b. Journalize Spectrum Industries' entries to fecord: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. Evaluating atemative notes A borrower has two alternatives for a loan: (1) issue a $510,000,60-day, 9% note or (2) issue a $510,000,60-day note that the creditor discounts at 9%. Assume a 360 day year, a. Comoute the amount of the interest expense for each option: for each alternative. b. Determine the proceeds received by the borrower in each situation. (1) 5510,000,60day,9% interest-bearing note (2) $510,000,60-day note discounted at 9% c. Alternative is more favorable to the borrower because the borrower? Entries for notes payoble A business issued a 90 -day, 6% note for $80,000 to a creditor on account, Journalize the entries to record (a) the issuance of the note and (b) the payment of the note maturity, including interest: If an amount box does not require an entry, leave it blank. Assume a 360 days in a year. Assume a 360 days in a year. If required, round your answers to the nearest dollar. If an amount box does not require an entry, leave it bilik. a. Journalize Bennett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. feedback rowalmy was If you were the borrower how much would you be leaving Spectrum Industries with in proceeds? What does the liability always have to be recorded at? b. Journalize Spectrum Industries' entries to fecord: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. Evaluating atemative notes A borrower has two alternatives for a loan: (1) issue a $510,000,60-day, 9% note or (2) issue a $510,000,60-day note that the creditor discounts at 9%. Assume a 360 day year, a. Comoute the amount of the interest expense for each option: for each alternative. b. Determine the proceeds received by the borrower in each situation. (1) 5510,000,60day,9% interest-bearing note (2) $510,000,60-day note discounted at 9% c. Alternative is more favorable to the borrower because the borrower? Entries for notes payoble A business issued a 90 -day, 6% note for $80,000 to a creditor on account, Journalize the entries to record (a) the issuance of the note and (b) the payment of the note maturity, including interest: If an amount box does not require an entry, leave it blank. Assume a 360 days in a year