Exercise 15-13 (Algo) Transactions in held-to-maturity, trading, and stock investments LO P1, P2, P4 a. On February 15, paid $140,000 cash to purchase GMI's 90-day short-term notes at par, which are dated February 15 and pay 8% interest (classified as held-to-maturity). b. On March 22, bought 800 shares of Fran Incorporated common stock at $25 cash per share. Cancun's stock investment results in it having an insignificant influence over Fran. c. On May 15, received a check from GMI in payment of the principal and 90 days' interest on the notes purchased in part a. d. On July 30, paid $42,000 cash to purchase MP Incorporated's 7%, six-month notes at par, dated July 30 (classified as trading securities). e. On September 1, received a $0.36 per share cash dividend on the Fran Incorporated common stock purchased in part b. f. On October 8, sold 400 shares of Fran Incorporated common stock for $31 cash per share. g. On October 30, received a check from MP Incorporated for three months' interest on the notes purchased in part d. Prepare journal entries to record the above transactions involving both the short-term and long-term investments of Cancun Corporation, all of which occurred during the current year. (Use 360 days in a year. Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) View transaction list Journal entry worksheet < 1 2 3 4567 On February 15, paid $140,000 cash to purchase GMI's 90-day short-term notes at par, which are dated February 15 and pay 8% interest (classified as held-to-maturity). Note: Enter debits before credits. Transaction a. General Journal Debit Credit Exercise 15-14 (Algo) Accounting for equity method investments LO P5 Listed below are a few events and transactions of Kodax Company. Year 1 January 2 Purchased 75,000 shares of Grecco Company common stock for $481,000 cash. Grecco has 300,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. September 1 Grecco declared and paid a cash dividend of $2.20 per share. December 31 Grecco announced that net income for the year is $497,400. Year 2 June 1 Grecco declared and paid a cash dividend of $.70 per share. December 31 Grecco announced that net income for the year is $717,900. December 31 Kodax sold 13,000 shares of Grecco for $100,000 cash. Prepare journal entries to record the above transactions and events of Kodax Company. (Do not round intermediate calculations and round your final answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 2 3 4 5 6 Purchased 75,000 shares of Grecco Company common stock for $481,000 cash. Grecco has 300,000 shares of common stock outstanding, and its activities will be significantly influenced by Kodax. Note: Enter debits before credits. Date January 2, Year 1 General Journal Debit Credit