Question
Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2015. a. On
Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2015. |
a. | On June 15, paid $122,000 cash to purchase Remedys 90-day short-term debt securities ($122,000 principal), dated June 15, that pay 7% interest (categorized as held-to-maturity securities). |
b. | On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.) |
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