Question
a. On February 15, paid $160,000 cash to purchase American Generals 90-day short-term notes at par, which are dated February 15 and pay 10% interest
a. | On February 15, paid $160,000 cash to purchase American Generals 90-day short-term notes at par, which are dated February 15 and pay 10% interest (classified as held-to-maturity). |
b. | On March 22, bought 700 shares of Fran Industries common stock at $51 cash per share plus a $150 brokerage fee (classified as long-term available-for-sale securities). |
c. | On May 15, received a check from American General in payment of the principal and 90 days interest on the notes purchased in transactiona. |
d. | On July 30, paid $100,000 cash to purchase MP3 Electronics's 8% notes at par, dated July 30, 2015, and maturing on January 30, 2016 (classified as trading securities). |
e. | On September 1, received a $1.00 per share cash dividend on the Fran Industries common stock purchased in transactionb. |
f. | On October 8, sold 350 shares of Fran Industries common stock for $64 cash per share, less a $125 brokerage fee. |
g. | On October 30, received a check from MP3 Electronics for three months interest on the notes purchased in transactiond. |
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