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Prepare Hertog Company's journal entries to record the following transactions for the current year. May 7 Purchases Kraft bonds as a short-term investment in trading

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Prepare Hertog Company's journal entries to record the following transactions for the current year. May 7 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,440. June 6 Sells its entire investment in Kraft bonds for $11,150 cash. Answer is not complete. No Date Debit Credit 10,440 1 General Journal Debt investments - Trading Cash May 07 10,440 June 06 Cash 11,150 N

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