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Bennett Enterprises issues a $372,000, 60-day, 6%, 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 blank. a.  Journalize Bennett Enterprises’ entries to record: the issuance of the note. the payment of the note at maturity. 1.   fill in the blank e3bb2afd802100b_2 fill in the blank e3bb2afd802100b_3     fill in the blank e3bb2afd802100b_5 fill in the blank e3bb2afd802100b_6 2.   fill in the blank e3bb2afd802100b_8 fill in the blank e3bb2afd802100b_9     fill in the blank e3bb2afd802100b_11 fill in the blank e3bb2afd802100b_12     fill in the blank e3bb2afd802100b_14 fill in the blank e3bb2afd802100b_15 b.  Journalize Spectrum Industries’ entries to record: the receipt of the note. the receipt of the payment of the note at maturity. 1.   fill in the blank 87e29d09a068002_2 fill in the blank 87e29d09a068002_3     fill in the blank 87e29d09a068002_5 fill in the blank 87e29d09a068002_6 2.   fill in the blank 87e29d09a068002_8 fill in the blank 87e29d09a068002_9     fill in the blank 87e29d09a068002_11 fill in the blank 87e29d09a068002_12     fill in the blank 87e29d09a068002_14 fill in the blank 87e29d09a068002_15

Bennett Enterprises issues a $372,000, 60-day, 6%, 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 blank. a.  Journalize Bennett Enterprises’ entries to record: the issuance of the note. the payment of the note at maturity. 1.   fill in the blank e3bb2afd802100b_2 fill in the blank e3bb2afd802100b_3     fill in the blank e3bb2afd802100b_5 fill in the blank e3bb2afd802100b_6 2.   fill in the blank e3bb2afd802100b_8 fill in the blank e3bb2afd802100b_9     fill in the blank e3bb2afd802100b_11 fill in the blank e3bb2afd802100b_12     fill in the blank e3bb2afd802100b_14 fill in the blank e3bb2afd802100b_15 b.  Journalize Spectrum Industries’ entries to record: the receipt of the note. the receipt of the payment of the note at maturity. 1.   fill in the blank 87e29d09a068002_2 fill in the blank 87e29d09a068002_3     fill in the blank 87e29d09a068002_5 fill in the blank 87e29d09a068002_6 2.   fill in the blank 87e29d09a068002_8 fill in the blank 87e29d09a068002_9     fill in the blank 87e29d09a068002_11 fill in the blank 87e29d09a068002_12     fill in the blank 87e29d09a068002_14 fill in the blank 87e29d09a068002_15

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  1. Entries for notes payable

    Bennett Enterprises issues a $372,000, 60-day, 6%, 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 blank.

    a.  Journalize Bennett Enterprises’ entries to record:

    1. the issuance of the note.
    2. the payment of the note at maturity.
    1.   fill in the blank e3bb2afd802100b_2 fill in the blank e3bb2afd802100b_3
        fill in the blank e3bb2afd802100b_5 fill in the blank e3bb2afd802100b_6
    2.   fill in the blank e3bb2afd802100b_8 fill in the blank e3bb2afd802100b_9
        fill in the blank e3bb2afd802100b_11 fill in the blank e3bb2afd802100b_12
        fill in the blank e3bb2afd802100b_14 fill in the blank e3bb2afd802100b_15

    b.  Journalize Spectrum Industries’ entries to record:

    1. the receipt of the note.
    2. the receipt of the payment of the note at maturity.
    1.   fill in the blank 87e29d09a068002_2 fill in the blank 87e29d09a068002_3
        fill in the blank 87e29d09a068002_5 fill in the blank 87e29d09a068002_6
    2.   fill in the blank 87e29d09a068002_8 fill in the blank 87e29d09a068002_9
        fill in the blank 87e29d09a068002_11 fill in the blank 87e29d09a068002_12
        fill in the blank 87e29d09a068002_14 fill in the blank 87e29d09a068002_15
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