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i could use some help with this problem :) In January 2022, the management of Sunland Compary concludes that it has sufficient cash to permit
i could use some help with this problem :) In January 2022, the management of Sunland Compary concludes that it has sufficient cash to permit some short-term investments in debt and equlty securities. During the year, the following transactlons occurred. Feb. 1 Purchased 500 shares of Muninger common stock for $27,500. Mar. 1 Purchased 700 shares of Tatmancommon stock for $17,500. Apr. 1 Purchased 60 of $1.240,8% Yoakem bonds for $74.400. Interest is payable semiannually on April 1 and October 1. July 1 Recelved a cash dividend of $0.70 per share on the Muninger common stock. Aug 1 Sold 167 shares of Muninger common stock at 565 per share. Sept. 1 Received a $2 per share cash dividend on the Tatman common stock. Oct.1 Recelved the semiannual interest on the Yoakem bonds. Oct. 1 Sold the Yoakem bonds for $72,600. At December 31, the fair value of the Muninger and Tatman common stocks were $56 and $24 per share respectively. These stock imvestments by Sunland Company provide less than a 20% ownership interest. (a) Jour nalize the transactions and post to the accounts Debt investments and Siock Investenents. (Use the T-account form) (Record joumal entries in the order presented in the problem Litt all debit entries before credit entries. Credit account titles are outomatically indented when omount is entered. Do not indent manually. If no entry is required, seiect "No entry" for the account titles and enter Ofor the amounts) Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) (Record journal entries in the order presented in the problem. List al debit entries before credit entries, Credit occoumt titles ore automatically indented when amount Is enternd. Do not indent monually. If no entry is required, seiect "No entry" for the account tites and enter of for the amounts. (To record the receipt of semiannual interest on Yoakem bonds) (To record the sale of Yoakem bonds)
i could use some help with this problem :)
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