Exercise 15-13 Transactions in held-to-maturity, trading, and stock investments P1 P2 P4 Prepare journal entries to record the following transactions involving both the short-term and long-term investments of Cancun Corp., all of which occurred during the current year. a. On February 15, paid $160,000 cash to purchase GMIs 90-day short-term notes at par, which are dated February 15 and pay 10% interest (classified as held-to-maturity). b. On March 22, bought 700 shares of Fran Inc. common stock at $51 cash per share. Cancuns 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 $100,000 cash to purchase MP Inc.s 8%, six-month notes at par, dated July 30 (classified as trading securities). e. On September 1, received a $1 per share cash dividend on the Fran Inc. common stock purchased in part b . f. On October 8, sold 30 shares of Fran Inc. common stock for $54 cash per share. g. On October 30, received a check from MP Inc. for three months interest on the notes purchased in part d .