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Bentz Corporation bought and sold several securities during 2024. Listed below is a summary of the transactions: February 17 Purchased $102,000 of U.S. Treasury 6%
Bentz Corporation bought and sold several securities during 2024. Listed below is a summary of the transactions: February 17 Purchased $102,000 of U.S. Treasury 6% bonds at par plus accrued interest of $1,000. The security is to be held for short Purchased 500 shares of Gauges Incorporated common stock at $140 per share. This security will be held for an unspecified April 10 time. August 8 Sold 100 shares of Gauges Incorporated for $150 per share. October 5 Sold half of the U.S. Treasury bonds for $51,500 plus accrued interest of $300. Required: Prepare the journal entries for the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
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