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0. On February 15, paid $160,000 cash to purchase GMI's 90 -day short-term notes at par, which are dated February 15 and pay 10% interest
0. On February 15, paid $160,000 cash to purchase GMI's 90 -day short-term notes at par, which are dated February 15 and pay 10% interest (classified as held-to-maturity). b. On March 22 , bought 700 shares of Fran Incorporated common stock at $51 cash per share. Cancun's stock investment results in it having an insignificant influence over Fran. c. On May 15 , recelved a check from GMi in payment of the principal and 90 days' interest on the notes purchased in part a. d. On July 30 , paid $100,000 cash to purchase MP Incorporated's 8%, six-month notes at pat, dated July 30 (classified as trading securities) e. On September 1, recelved a $1 per share cash dividend on the Fran Incorporated common stock purchased in part b. 1. On October 8 , sold 30 shares of Fran Incorporated common stock for $54 cash per share. g. On October 30 , received a check from MP incorporated for three month' interest on the notes purchased in part d. Prepare journal entries to record the above transactions involving both the short-term and long-term investments of Cancun Corporation, all of which occurred during the current year. Note: Use 360 days in a year. Do not round your intermediate colculations
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