15 quiz #4 , 5 ,

Journ Co. purchased short term investments in available-for-sale debt securities at a cost of $50,500 cash on November 25. At December 31, these securities had a fair value of $48.000. This is the first and only time the company has purchased such securities. 1.2 & 3. Prepare the November 25 entry to record the purchase of debt securities, the December 31 year-end adjusting entry for the securities portfolio, and the April 6 entry when Journ sells 11% of these securities (55,555 cost) for $6.900 cash. View transaction list Journal entry worksheet Record the year-end adjustment to fair value, If any. Notet Enter debits before credito Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal Jour Co purchased short-term investments in available for-sale debt securities at a cost of $50,500 cash on November 25 At December 31, these securities had a fair value of $48,000. This is the first and only time the company has purchased such securities 1.2. & 3. Prepare the November 25 entry to record the purchase of debt securities, the December 31 year-end adjusting entry for the securities' portfolio, and the April 6 entry when Journ sells 11% of these securities (55,555 cost) for $6.900 cash. View transaction list Journal entry worksheet 1 Record sale of 11% of available for sale securities. Woter Enter debits before credits Date Apr 6 General Journal Debit Credit Record entry Clear entry View general journal Prepare Garzon Company's journal entries to record the following transactions for the current year Jan. 1 Purchases 6% bonds (as held-to-maturity investment) issued by pes at a cost of $57,600, which is the par value. July 1 Receives first semiannual payment of interest from Pas bonds. Dec. 31 Receives a check from PBS in payment of principal (557,600) and the second semiannual payment of interest. View transaction list Journal entry worksheet 1 2 3 > Purchases 6% bonds (as a held-to-maturity investment) issued by PBS at a cost of $57,600, which is the par value. Note: Enter debits before credits General Journal Date Jan 1 Debit Credit Record entry Clear entry View general Journal Prepare Garzon Company's journal entries to record the following transactions for the current year. Jan. 1 Purchase 6% bonds (as held-to-naturity Investment) issued by PS at a cost of $57,600, which is the per value July 1 Receives first semiannual payment of Interest from 5 bonds. Dec. 31 Recelves a check from pus in payment of principal (587,600) and the second son annual payment of interest View transaction fist Journal entry worksheet Receives first semiannual payment of interest from pus bonds. Notes Enter debits before credits Dato Jul 1 General Journal Debit Credit Record entry Clear entry View general Journal Prepare Garzon Company's journal entries to record the following transactions for the current year. Jan. 1 Purchases 6% bonds (as a held-to-maturity investment) issued by PB5 at a cost of $57,600, which is the par value. July 1 Receives first semiannual payment of interest from PBS bonds Dec. 31 Receives a check from Pes in payment of principal ($57,600) and the second seniannual payment of interest. View transaction list Journal entry worksheet 3 Receives a check from PBS in payment of principal (557,600) and the second semiannual payment of interest, Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal