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a . On February 1 5 , paid $ 1 4 0 , 0 0 0 cash to purchase GMI's 9 0 - day short
a On February paid $ cash to purchase GMI's day shortterm notes at par, which are dated February and pay interest classified as heldtomaturity b On March bought shares of Fran Incorporated common stock at $ cash per share. Cancun's stock investment results in it having an insignificant influence over Fran. c On May received a check from GMI in payment of the principal and days' interest on the notes purchased in part a d On July paid $ cash to purchase MP Incorporated's sixmonth notes at par, dated July classified as trading securities e On September received a $ per share cash dividend on the Fran Incorporated common stock purchased in part f On October sold shares of Fran Incorporated common stock for $ cash per share. g On October received a check from MP Incorporated for three months' interest on the notes purchasedyn part Prepare journal entries to record the above transactions involving both the shortterm and longterm investments of Cancun Corporation, all of which occurred during the current year. Note: Use days in a year. Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Journal entry worksheet On March bought shares of Fran Incorporated common stock at $ cash per share. Cancun's stock investment results in it having an insignificant influence over Fran. Note: Enter debits before credits. tableTransactionGeneral Journal,Debit,CreditbStock investments,,Cash,,
a On February paid $ cash to purchase GMI's day shortterm notes at par, which are dated February and pay interest classified as heldtomaturity
b On March bought shares of Fran Incorporated common stock at $ cash per share. Cancun's stock investment results in it having an insignificant influence over Fran.
c On May received a check from GMI in payment of the principal and days' interest on the notes purchased in part a
d On July paid $ cash to purchase MP Incorporated's sixmonth notes at par, dated July classified as trading securities
e On September received a $ per share cash dividend on the Fran Incorporated common stock purchased in part
f On October sold shares of Fran Incorporated common stock for $ cash per share.
g On October received a check from MP Incorporated for three months' interest on the notes purchasedyn part
Prepare journal entries to record the above transactions involving both the shortterm and longterm investments of Cancun Corporation, all of which occurred during the current year.
Note: Use days in a year. Do not round your intermediate calculations. Round your answers to the nearest whole dollar.
Journal entry worksheet
On March bought shares of Fran Incorporated common stock at $ cash per share. Cancun's stock investment results in it having an insignificant influence over Fran.
Note: Enter debits before credits.
tableTransactionGeneral Journal,Debit,CreditbStock investments,,Cash,,
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