On May 3 1 , Jeans Company invested $49,000 in U.S. Treasury bills. The bills mature in
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On May 3 1 , Jeans Company invested $49,000 in U.S. Treasury bills. The bills mature in 120 days at $50,000. Prepare entries to record the purchase on May 31; the adjustment to accrue interest on June 30, which is the end of the fiscal year; and the receipt of cash at the maturity date of September 28. SE-4
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