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in January 2022, the management of Blossom Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During

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in January 2022, the management of Blossom Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred Jan. 1 Purchased 75$1,000,8% TRC bonds for $75,000. Interest is payable annually on December 31 . Feb. 1 Purchased 1,295 shares of LAF common stock for $53,095. Mar: 1 Purchased 540 shares of NCL common stock for $18,900, July 1 Received a cash dividend of $0,80 per share on the LAF common stock. Aug. 1 Sold 217 shares of LAF common stock at $40 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 $77,665 : At December 31, the fair values of the LAF and NCL common stocks were $37 and $28 per share, respectively. These stock investments by Blossom Company provide less than a 20% ownership interest. Loss on Sale of Stock Investments 217 Stock investments Dividend Revenue Interest Revenue (To record interest) Dec 31 Cash 77.665 Debt imvestments Gain on Sale of Debt Irwestments (To record sale of bonds) Post to the accounts Debt Investments and Stock Investments. (If the balance is zero (0) select date from the drop down and enter the amount in the column that represents the normal balance for the account.)

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