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In january 2022, the management of Sheridan Company concludes that it has sufficient cash to permit some short-term investments in debt and equity securities, During

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In january 2022, the management of Sheridan Company concludes that it has sufficient cash to permit some short-term investments in debt and equity securities, During the year, the following transactions occurred. Feb. 1 Purchased 600 shares of Muninger common stock for $30,000. Mar. 1 Purchased 800 shares of Tatmancommon stock for $20,000. Apr. 1 Purchased 60 of $1,160,7% Yoakem bonds for $69,600. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of $070 per share on the Muninger common stock Auge 1 Sold 200 shares of Muninger common stock at $65 per sthare. Sept.1 Received a $1 per share cash dividend on the Tatman common stock Oct 1 Received the semiannual interest on the Yoakem bonds. Ott.1 Sold the Yoakem bonds for $67.900. At December 31 , the fair value of the Muninger and Tatman common stocks were $51 and $24 per share respectively These stock investments by Sheridan Company provide less than a 20% ownership interest. Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) (Record joumol entries in the order presented in the problem. List all debit entries before credit entries. 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 0 for the amounts) Stock Investments

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