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Please help me with the following question In January 2022, the management of Clinton Corporation, a publicly-traded company, decides that it has sufficient cash to
Please help me with the following question
In January 2022, the management of Clinton Corporation, a publicly-traded company, decides that it has sufficient cash to purchase some debt and equity securities to be held as trading investments. During the year, the following transactions occurred. Feb. 1 Purchased 1,200 shares of NJF common shares for $55,200. Purchased 600 shares of SEK common shares for $22,800. Mar. 1 Apr. 1 July 1 Purchased 67 $1,000, 8% CRT bonds for $68,300. Interest is receivable semi-annually on April 1 and October 1. Received a cash dividend of $0.70 per share on the NJF common shares. Sold 190 shares of NJF common shares at $37.00 per share. Aug. 1 Sept. 1 Received $2 per share cash dividend on the SEK common shares. Received the semi-annual interest on the CRT bonds. Oct. 1 Oct. 1 Sold the CRT bonds for $73,140. At December 31, Clinton's fiscal year end, the fair values of the NJF and SEK common shares were $36 and $33 per share, respectively. Identify the accounts typically used in recording Trading Investments and give the statement classification of each account. Account Financial Statement Section Cash Dividend Income
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