Problem 16-02A a-d (Part Level Submission) (Video) In January 2020, the management of Sunland Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred. Feb. 1 Mar. 1 Apr. 1 July 1 Aug. 1 Sept. 1 Oct. 1 Oct. 1 Purchased 400 shares of Muninger common stock for $20,000. Purchased 600 shares of Tatman common stock for $15,000. Purchased 40 $1,090,5% Yoakem bonds for $43,600. Interest is payable semiannually on April 1 and October 1. Received a cash dividend of $0.60 per share on the Muninger common stock. Sold 133 shares of Muninger common stock at $60 per share. Received a $2 per share cash dividend on the Tatman common stock. Received the semiannual interest on the Yoakem bonds. Sold the Yoakem bonds for $42,600. At December 31, the fair value of the Muninger common stock was $51 per share. The fair value of the Tatman common stock was $24 per share. (a) Your answer is correct. Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Feb. 1 Stock Investments 20,000 Cash 20,000 Mar. 1 Stock Investments 15,000 Cash 15,000 Apr. 1 Debt Investments 43,600 Cash 43,600 July 1 Cash 240 Dividend Revenue 240 Aug. 1Cash 7.9801 Stock Investments 6,650 Gain on Sale of Stock Investments 1,330 Sept. 1 Cash 1,200 Dividend Revenue 1,200 Oct.1 Cash 1,090 1,090 Interest Revenue (To record the receipt of semiannual interest on Yoakem bonds) Oct. 1 Cash 42,600 Loss on Sale of Debt Investments 1,000 43,600 Debt Investments (To record the sale of Yoakem bonds) Stock Investments Feb. 1 20,000||| Aug 1 6,650 Mar 1 15,000 Dec. 31 Bal 28,350 Debt Investments Apr 43,600|||| Oct. 1 43,600 Dec. 31 Bal (c) Your answer is partially correct. Try again. Show the balance sheet presentation of investment securities at December 31, 2020. Sunland Company Balance Sheet (Partial) December 31, 2020 Current Assets Short-term Investments, at fair value