Exercise 15-5 Accounting for short-term available for sale securities P3 Prepare journal entries to record the following transactions involving the short-terrm of Krum Co., all of which occurred during year 2017. a On August l pa id $450,000 cash to purchase Houte's 9% debt securities ($450,000 principal, de i July 30, 2017, and maturing January 30, 2018 (categorized as available-for-sale securities) b. On October 30, received a check from Houtte for 90 days' interest on the debt securities purchaseli Exercise 15-6 Transactions in short-term investments of Cancun Corp., all of which occurred during calendar-year 2017. Use the account Sh and long-term investments Term Investments for any transactions that you determine are short term. P1 P2 P3 transaction a. Prepare journal entries to record the following transactions involving both the short-term and long-an a. On February 15, paid $160,000 cash to purchase American General's 90-day short-term notes at po b. On March 22, bought 700 shares of Fran Industries common stock at $51 cash per shareplus a S c. On May 15, received a check from American General in payment of the principal and 90 days wes d. On July 30, paid $100,000 cash to purchase MP3 Electronics's 8% notes at par, dated July 30. e. On September 1, received a s1.00 per share cash dividend on the Fran Industries common stocdP which are dated February 15 and pay 10% interest (classified as held-to-maturity) brokerage fee (classified as long-term available-for-sale securities). on the notes purchased in transaction a. and maturing on January 30, 2018 (classified as trading securities). chased in transaction b. October 8, sold 350 shares of Fran Industries common stock for $64 cash per share, ls kerage