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a. On February 15, paid $150,000 cash to purchase GMis 90 -day short-term notes at par, which are dated February 15 and pay 8% interest

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a. On February 15, paid $150,000 cash to purchase GMis 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 $38 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 \$45.000 cash to purchase MP Incorporated's 7%, slx-month notes at par, dated July 30 (classified as trading securities). e. On September 1, recelved a $0.74 per share cash dividend on the Fran Incorporated common stock purchased in part b. f. On October 8 , sold 475 shares of Fran Incorporated common stock for $44 cash per share. g. On October 30, recelved a check from MP incorporated for three month's 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 duing the current year. Note: Use 360 days in o year. Do not round your intermedinte calculations. Round your onswers to the neorest whole dollar. Journal entry worksheet \begin{tabular}{llllll} 2 & 3 & 4 & 5 & 6 & 7 \end{tabular} On February 15, paid $150,000 cash to purchase GMI's 90 -day short-term notes at par, which are dated February 15 and pay 8% interest (classifled as held to maturity). Notes Enter debits betore credits

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