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Prepare journal entries to record the following transactions involving the short-term securities investments of Krum 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 Krum Co., all of which occurred during year 2015. a. On August 1, paid $62,000 cash to purchase Houtte's 11% debt securities ($62,000 principal), dated July 30, 2015, and maturing January 30, 2016 (categorized as available-for-sale securities). b. On October 30, received a check from Houtte for 90 days' interest on the debt securities purchased in transaction a. On August 1, paid $62,000 cash to purchase Houtte's 11% debt securities ($62,000 principal), dated July 30, 2015, and maturing January 30, 2016 (categorized as available-for-sale securities)
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