HELP PLEASE!!!!!!
a. On February 15, paid $160,000 cash to purchase GMI'S 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 850 shares of Fran Incorporated common stock at $24 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 $48,000 cash to purchase MP Incorporated's 9%, six-month notes at par, dated July 30 (classified as trading securities) e. On September 1, received a $0.42 per share cash dividend on the Fran Incorporated common stock purchased in part b. 1. On October 8, sold 425 shares of Fran Incorporated common stock for $30 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 On March 22, bought 850 shares of Fran Incorporated common stock at $24 cash per share. Cancun's stock investment results in It having an insignificant Influence over Fran. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry Vlew general Journal Journal entry worksheet On May 15, received a check from GMI in payment of the principal and 90 days' interest on the notes purchased in part a. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal Journal entry worksheet & On July 30, paid $48,000 cash to purchase MP Incorporated's 9% , six-month notes at par, dated July 30 (classified as trading securities). Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general Journal Journal entry worksheet On September 1, received a $0.42 per share cash dividend on the Fran Incorporated common stock purchased in part b. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record entry Clear entry View general Journal Journal entry worksheet 7 On October 8, sold 425 shares of Fran Incorporated common stock for $30 cash per share. Note: Enter debits before credits. Transaction General Journal Debit Credit f. Record entry Clear entry Vlew general Journal Journal entry worksheet
