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Hunt Company was formed on January 1, 2007. During its first year of operations, the company had the following invest activity. The company's investments are
Hunt Company was formed on January 1, 2007. During its first year of operations, the company had the following invest activity. The company's investments are considered trading for accounting and reporting purposes. Jan. 30 Purchased 500 shares of Walford common stock for $8,000 plus a $500 broker's fee. The investment represented less than a 1% ownership interest. Mar. 1 Purchased a GMC $100,000, 10-year, 12% bond at 102 plus accrued interest. The bond pays interest semi-annually on June 30 and December 31. Jun. 30 Received the interest payment on the GMC bond. Oct. 31 Received a $2.00 per share cash dividend on the Walford stock. Nov. 1 Sold the GMC bond at 103 plus accrued interest. Nov. 15 Sold 100 shares of the Walford stock for $21 per share less a broker's fee of $50. Dec. 31 The market price of the Walford stock was $22 per share. Prepare the journal entries to record the above transactions and investment activity
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