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please help me to answer this question in Asaap! Thank you. View Policies Current Attempt in Progress Blue Spruce Corporation had the following transactions in
please help me to answer this question in Asaap! Thank you.
View Policies Current Attempt in Progress Blue Spruce Corporation had the following transactions in debt instruments purchased to earn interest during the year ended December 31, 2021: Jan. 1 June 30 July 5 Purchased a 180-day (six-month) Government of Canada treasury bill for $128,079. Received $130,000 cash when the treasury bill matured. Purchased a money-market fund for $32,500. Cashed in the money-market fund, receiving $32,720. Purchased a six-month, 4% term deposit for $97,500. Oct. 1 1 Dec. 31 Accrued interest on the term deposit. Record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 1 Investments at Amortized Cost, Treasury Bill Cash (To record purchase of investment.) June 30 Cash Investments at Amortized Cost Treasury Bill (To record maturity of treasury bill investment.) Investments at Amortized Cost, Money Market Fund July 5 Cash (To record purchase of investment.) (To record purchase of investment.) Oct. 1 Cash Investments at Amortized Cost, Money Market Fund (Cash in money market investment.) Oct. 1 Investments at Amortized Cost, Term Deposit Cash (To record purchase of investment.) Dec 31 : Interest Receivable Interest Revenue (To accrue interest revenue.) Show the financial statement presentation of the investment at December 31 and any related accounts. BLUE SPRUCE CORPORATION Partial Balance Sheet $ BLUE SPRUCE CORPORATION Income Statement (Partial) $ Step by Step Solution
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