Question
Exercise 15-4 (Algo) Accounting for held-to-maturity debt securities LO P2 Prepare Natura Companys journal entries to record the following transactions involving its short-term investments in
Exercise 15-4 (Algo) Accounting for held-to-maturity debt securities LO P2
Prepare Natura Companys journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year.
a.On June 15, paid $186,000 cash to purchase Remeds 90-day short-term debt securities ($186,000 principal), dated June 15, that pay 6% interest.
b.On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.)
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