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Can you please help me with this question? In January 2022, the management of Clinton Corporation, a publicly-traded company, decides that it has sufficient cash
Can you please help me with this question?
In January 2022, the management of Clinton Corporation, a publicly-traded company, decides that it has sufficient cash to purchase some debt and equity securities to be held as trading investments. During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 Purchased 1,200 shares of NJF common shares for $55,200. Purchased 600 shares of SEK common shares for $22,800. Purchased 67 $1,000,8% CRT bonds for $68,300. Interest is receivable semi-annually on April 1 and October 1. Received a cash dividend of $0.70 per share on the NJF common shares. Sold 190 shares of NJF common shares at $37.00 per share. Received $2 per share cash dividend on the SEK common shares. Received the semi-annual interest on the CRT bonds. Sold the CRT bonds for $73.140. Aug. 1 Sept. 1 Oct. 1 Oct. 1 At December 31, Clinton's fiscal year end, the fair values of the NJF and SEK common shares were $36 and $33 per share, respectively. (a) ) Feb. 1 R& Mar. 1 w Apr. 1 th July 1 Aug 1 Sept. 1 le transactions, including required adjusting journal entries (if any). (Credit account titles are automatically indented is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for and enter for the amounts.) Oct. 1 Dec 31 Account Titles and Explanation Debit Credit > To record receipt of Incarcat on CRT banda To record sale of CRT bonda)Step by Step Solution
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