On December 2, 2021, Nudesign Furniture Ltd. purchased a $150,000, Canadian government 120-day treasury bill for $148,900.
Question:
On December 2, 2021, Nudesign Furniture Ltd. purchased a $150,000, Canadian government 120-day treasury bill for $148,900. On December 31, $275 of interest had accrued on the treasury bill. On April 1, 2022, the treasury bill matured. Prepare the journal entries to record the
(a) Purchase of the treasury bill;
(b) Accrual of interest on December 31, 2021;
(c) Receipt of cash on April 1, 2022.
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a Dec 2 Investments at Amortized Cost Treasury Bill148900 ...View the full answer
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Related Book For 
Accounting Principles Volume 2
ISBN: 978-1119502555
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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