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Prepare journal entries to record the following transactions involving the short-term securities invest- ments of Blake Co., all of which occurred during year 2008. a.

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Prepare journal entries to record the following transactions involving the short-term securities invest- ments of Blake Co., all of which occurred during year 2008. a. On February 15, paid $120,000 cash to purchase RTF's 90-day short-term debt securities ($120,000 principal), dated February 15, that pay 8% interest (categorized as held-to-maturity securities). b. On March 22, purchased 700 shares of XIF Company stock at $27.50 per share plus a $150 broker- age fee. These shares are categorized as trading securities. c. On May 16, received a chcek from RTF in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. d. On August 1, paid $80,000 cash to purchase Flash Co.'s 10% debt securities ($80,000 principal), dated July 30, 2008, and maturing January 30, 2009 (categorized as available-for-sale securities). e. On September 1, received a $1.00 per share cash dividend on the XIF Company stock purchased in transaction b. f. On October 8, sold 350 shares of XIF Co. stock for $34 per share, less a $140 brokerage fee. g. On October 30, received a chock from Flash Co. for 90 days' interest on the debt securities purchased in transaction d

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