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in debt and stock securities. During the year, the following transactions occurred. Jan. 1 Purchased 66 $1,000,8% TRC bonds for $66,000. Interest is payable
in debt and stock securities. During the year, the following transactions occurred. Jan. 1 Purchased 66 $1,000,8% TRC bonds for $66,000. Interest is payable annually on December 31. Fch. 1 Purchased 1,265 shares of IAF common stock for $58,1901. Mar. 1 Purchased 510 shares of NCJ common stock for $19,380. July 1 Received a cash dividend of $0.80 per share on the IAF common stock. Aug. 1 Sold 205 shares of LAF common stock at $45 per share. Sept. 1 Received $2 per share cash dividend on the NCL common stock Dec. 31 Received the annual interest on the TRC bonds. 31 Sold the TRC bonds for $74,590. At December 31, the fair values of the AF and NCI common stocks were $42 and $31 per share, respectively. These stock investments by Ivanhoe Company provide less than a 20% ownership interest. (a) Journalize the above transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation (To record Interest) (To record sale of bonds) Debit Credit Post to the accounts Debt Investments and Stock Investments. (If the balance is zero (0) select date from the drop down and enter fo the amount in the column that represents the normal balance for the account.) Stock Investments Debt Investments
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