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

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In January 2022, the management of Crane Company concludes that it has sufficient cash to purchase some short-term investme debt and stock securities. During the year, the following transactions occurred. J3n. 1 Purchased 68$1,000,7% TRC bonds for $68,000. Interest is payable annually on December 31. Feh. 1 Purchased 1,150 shares of LAF common stock for $46,000. Mar. 1 Purchased 470 shares of NCL common stock for $18,800. July 1 Recelyed a cash dividend of $0,90 per share on the LAF common stock: Augg 1 Sold 183 shares of LAF comenen stock at $39 per share. Sept 1 Pecelved $2 per share cash dividend on the NCL cornmen stock. Dec 31 Recelved the anmat inverest on the The bonds. 31 Sold the TRC bonds for $78.850 At December 31. the fale values of the LAF and NCL comimon stocks were $2 af and $13 per share, reopectlvely These sorh ifmetments by Crane Company provide less than a 20x ownerthip interest. foumalize the above transactions. (Record journal entries in the order presented in the problem. Credir accost tities ere outomalicatly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Fnty for the ocrount titles and enter 0 for the amounts. (To recond interes) (75 record sale of tesnas) Port to the accounts Debt Irwertments and 5 tock imestments. fif the balance is aero (0) select dote from the deop dewn and enter D for the ancunt in the column that represents the normul balance for the account.]

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