Chapters 10 and 11 HOMEWORK XCengageNOWv2| Online teachin xô https://v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogres..Chapters 10 and 11еBookShow Me HowPrint ItemBennett Enterprises issues a $396,000, 30-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 blank.a. Journalize Bennett Enterprises' entries to record:1. the issuance of the note.2. the payment of the note at maturity.1.2.>b. Journalize Spectrum Industries' entries to record:1. the receipt of the note.2. the receipt of the payment of the note at maturity.1.2.

The journal entries are prepared to keep the record of daily transactions of the business.

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Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter9: Long-term Liabilities

Section: Chapter Questions

Problem 104.4C

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