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Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions. February 17 Purchased $100,000 of U. S. Treasury
Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions. February 17 Purchased $100,000 of U. S. Treasury 6% bonds, paying 102 plus accrued interest of $1,000. The security is to be held for short term profits. April 10 Purchased 500 shares of Gauges Inc. common stock at $140 per share. This security will be held for an unspecified period of time. August 8 Sold 100 shares of Gauges Inc. for $150 per share. October 5 Sold half of the U. S. Treasury bonds for 103 plus accrued interest for $300. Prepare the journal entries for the above transactions. Show calculations
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