a. On February 15, paid $140,000 cash to purchase GMI's 90-day short-term notes at par, which...

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a. On February 15, paid $140,000 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 950 shares of Fran Incorporated common stock at $36 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 $42,000 cash to purchase MP Incorporated's 7%, six-month notes at par, dated July 30 (classified as trading securities). e. On September 1, received a $0.60 per share cash dividend on the Fran Incorporated common stock purchased in part b. On October 8, sold 475 shares of Fran Incorporated common stock for $42 cash per share. g. On October 30, received a check from MP Incorporated for three months' 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. (Use 360 days in a year. Do not round your Intermediate calculations. Round your answers to the nearest whole dollar) View transaction let View Journal entry worksheet No Transaction General Journal 1 a. Stock investments Cash 2 b Cash Stock investments 3 C Cash 4 d Cash 5 E Cash Dividend revenue 6 Cash T 2 Cash Interest revenue Debit Credit a. On February 15, paid $140,000 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 950 shares of Fran Incorporated common stock at $36 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 $42,000 cash to purchase MP Incorporated's 7%, six-month notes at par, dated July 30 (classified as trading securities). e. On September 1, received a $0.60 per share cash dividend on the Fran Incorporated common stock purchased in part b. On October 8, sold 475 shares of Fran Incorporated common stock for $42 cash per share. g. On October 30, received a check from MP Incorporated for three months' 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. (Use 360 days in a year. Do not round your Intermediate calculations. Round your answers to the nearest whole dollar) View transaction let View Journal entry worksheet No Transaction General Journal 1 a. Stock investments Cash 2 b Cash Stock investments 3 C Cash 4 d Cash 5 E Cash Dividend revenue 6 Cash T 2 Cash Interest revenue Debit Credit