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please check answers and help w the last part Current Attempt in Progress In January 2022, the management of Blossom Compary concludes that it has
please check answers and help w the last part
Current Attempt in Progress In January 2022, the management of Blossom Compary concludes that it has sutficient cash to permit some short-term imvestments in debt and equity securities. During the yeac, the following transactions occurred. Feb. 1 Purchased 700 shares of Muninger common stock tor $38.500 Mar, 1 Purchased 900 shares of Tatman common stock for $22,500 Apr. 1 Purchased 30 of $1.070,7k Yoakem bonds for $32,100. Interest is payable semiannually on Apeil 1 and October 1. July 1 Received a cash dividend of $0.60 per share on the Muninger common stock Aug 1 Sold 233 shares of Muninger common stctivat 560 per share. Sept. 1 Received a 52 per share cash dividend on the Tatman common stock: Oct. 1 Recelved the semiannual interest on the Yoakem bonds. Oct. 1 Sold the Yoakem bonds for $29,600. At December 31, the fair value of the Muninger and Tatman common stocks were $56 and $24 per share respectively, These stock irvestments by Blossom Company provide less than a 20% ownership interest. (a) Journalize the transactions and post to the accounts Debt irvestments and 5tock investments. (Use the T-account form) (Recond journal entries in the order presented in the probien. List all debit entries before credit entries. Credit occount tities are cutomatically indented when amount is entered. Do not indent mancolly. If no entry is required, select 'No entry' for the occount bities and enter ofor the amounts.) 88 +1 . Dividend Revenue 1.800 \begin{tabular}{r|l|} \hline Oct. 1ath & 1.12350 \\ \hline Interest Revenue & \\ \hline \end{tabular} 1,123.50 (To record the receipt of semiannual interest on Yoakem bonds) Oct 1 \begin{tabular}{|l|l|} \hline Cash & 29,600 \\ \hline Loss on Sale of Debt investments & 2,500 \\ \hline Debt investments & Debt Investments \end{tabular} (To record the sale of Yoakem bonds) Stock Investments Debt Investments Step by Step Solution
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