Question
Concord Corporation, during the year ended October 31, 2021, had the following transactions for money-market instruments purchased to earn interest: Jan. 2. May 1 Aug
Concord Corporation, during the year ended October 31, 2021, had the following transactions for money-market instruments purchased to earn interest: Jan. 2. May 1 Aug 1 Aug 31 Sept. 30 Oct. 1 Oct. 15 Purchased a 100-day, $41.600 treasury bill maturing on May 1 for $41,351. The treasury bill matured. Invested $67,600 in a money-market fund. Received notification that $169 of interest had been earned and added to the fund. Received notification that $169 of interest had been earned and added to the fund. Purchased a 100-day, 3.6%, $31.200 treasury bill for $30.922 Cashed the money-market fund and received $68,023 Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation (To record purchase of investment.) DE (To record maturity of treasury bill investment) (To record purchase of investment.) Debit Credit (To accrue interest revenue.) (To accrue interest revenue.) (To record purchase of investment.) (Cashed in money market fund.)/
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