In January 2022, the management of Sheridan 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 71 $1,000, 9% TRC bonds for $71,000. Interest is payable annually on December 31.
Feb.	1		Purchased 1,120 shares of LAF common stock for $45,920.
Mar.	1		Purchased 480 shares of NCL common stock for $19,200.
July	1		Received a cash dividend of $0.80 per share on the LAF common stock.
Aug.	1		Sold 189 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 $72,487.

At December 31, the fair values of the LAF and NCL common stocks were $37 and $33 per share, respectively. These stock investments by Sheridan Company provide less than a 20% ownership interest.

(a)

Journalize the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 1Feb. 1Mar. 1July 1Aug. 1Sept. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Feb. 1Mar. 1July 1Aug. 1Sept. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Feb. 1Mar. 1July 1Aug. 1Sept. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Feb. 1Mar. 1July 1Aug. 1Sept. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
Aug. 1	enter an account title for the journal entry on August 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on August 1	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on August 1	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Feb. 1Mar. 1July 1Aug. 1Sept. 1Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1Feb. 1Mar. 1July 1Aug. 1Sept. 1Dec. 31	enter an account title to record interest	enter a debit amount	enter a credit amount
	enter an account title to record interest	enter a debit amount	enter a credit amount
	(To record interest)
choose a transaction date Jan. 1Feb. 1Mar. 1July 1Aug. 1Sept. 1Dec. 31	enter an account title to record sale of bonds	enter a debit amount	enter a credit amount
	enter an account title to record sale of bonds	enter a debit amount	enter a credit amount
	enter an account title to record sale of bonds	enter a debit amount	enter a credit amount
	(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 0 for the amount in the column that represents the normal balance for the account.)

Stock Investments
choose a transaction date Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a debit amount	choose a transaction date Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a credit amount
choose a transaction date Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a debit amount	choose a transaction date Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a credit amount
choose the end date of the accounting period Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a debit balance	choose the end date of the accounting period Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a credit balance

Debt Investments
choose a transaction date Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a debit amount	choose a transaction date Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a credit amount
choose the end date of the accounting period Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a debit balance	choose the end date of the accounting period Jan. 1Feb. 1Mar. 1Aug. 1Dec. 31Dec. 31 Bal.	enter a credit balance