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In January 2020, the management of Carla Vista Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities.

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In January 2020, the management of Carla Vista Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred. Feb. 1 Purchased 500 shares of Muninger common stock for $25,000. Mar. 1 Apr. 1 July 1 Purchased 700 shares of Tatman common stock for $17,500. Purchased 30 $1,120,5% Yoakem bonds for $33,600. Interest is payable semiannually on April 1 and October 1. Received a cash dividend of $0.60 per share on the Muninger common stock. Sold 167 shares of Muninger common stock at $65 per share. Received a $1 per share cash dividend on the Tatman common stock. Aug. 1 Sept. 1 Oct. 1 Oct. Received the semiannual interest on the Yoakem bonds. Sold the Yoakem bonds for $32,600. 1 At December 31, the fair value of the Muninger common stock was $51 per share. The fair value of the Tatman common stock was $24 per share. 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. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Stock Investments Credit eb. 1 25000 Cash 25000 Aar 1 Stock Investments 17500 Cash 17500 pr1 Debt Investments 33600 Cash 33600 uly 1 Cash 300 Dividend Revenue 300 1 Cash 10855 Stock Investments 8517 Gain on Sale of Stock Investments ept. 1 Cash Dividend Revenue

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