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11 3.63 points a. On February 15, paid $190,000 cash to purchase GMI's 90-day short-term notes at par, which are dated February 15 and pay
11 3.63 points a. On February 15, paid $190,000 cash to purchase GMI's 90-day short-term notes at par, which are dated February 15 and pay 8% interest (classified as held-to-maturity). b. On March 22, bought 800 shares of Fran Inc. common stock at $31 cash per share. Cancun's stock investment results in it having an insignificant influence over Fran. c. On May 15, received 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 $57,000 cash to purchase MP Inc.'s 7%, six-month notes at par, dated July 30 (classified as trading securities), e.On September 1, received a $0.28 per share cash dividend on the Fran Inc. common stock purchased in part b. f. On October 8, sold 400 shares of Fran Inc. common stock for $37 cash per share. 9. On October 30, received a check from MP Inc. for three months' interest on the notes purchased in part d. eBook Hint Pint References Prepare journal entries to record the above transactions involving both the short-term and long-term investments of Cancun Corp., all of which occurred during the current year. (Use 360 days in a year. Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > On February 15, paid $190,000 cash to purchase GMI's 90-day short-term notes at par, which are dated February 15 and pay 8% Interest (classified as held-to-maturity). Note: Enter debits before credits Transaction General Journal Dobit Credit Me Graw HII ht inces On March 22, bought 800 shares of Fran Inc. common stock at $31 cash per share. Cancun's stock investment results in it having an insignificant influence over Fran. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general Journal View transaction list Journal entry worksheet Book Hint 2 3 4 5 6 * Print On May 15, received a check from GMI in payment of the principal and 90 days' interest on the notes purchased in part a. Ferences Note: Enter debits before credits. Transaction General Journal Debit Credit C. Record entry Clear entry View general journal View transaction list Journal entry worksheet
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