Question 1 of 3 -13 Grouper Inc. has a seasonal business with some periods during the year where cash is abundant and needs to be invested in the short term until it is needed later on in the business cycle. The following are the transactions that occurred for Grouper Inc. near the end of its fiscal year ended December 31, 2021 and the early part of 2022. Nov. 15,2021 Purchased a term deposit at National Trust for $58,000. The term deposit is for three months and will earn interest at 3.00% Nov. 30, 2021 Purchased a three month treasury bill with a face value of $20,500 and a purchase price of $20,284. The market rate of interest is 425% for this type of investment. Feb 15, 2022 The National Therarmdannet mat Feb. 28,2022 The Long-term investments - Term Depok Bonds Payable Cash Record the above transa Long-term investments - Treasury om mal entries at December 31, 2021. (Credit account titles are automatically indented Inventions at Amortired Cont, Treasury om Wally. If no entry is required, select "No Entry for the account titles and enter for the Interest Payable Interest Ravenue 3.5.276) Interest Receivable Date Investments at Amortized Cost Term Deposit Debit Credit Lont term investiments-Term Deport Cash - Nov. 15. 2021 58000 58000 Nov. 30, 2021 Investments at Amortired Cost Treasury Bill 20984 Co 20284 Dec 31, 2021 Interest Receivable 217.5 2175 Interest Revenue (To record accrual of interest) Investments at Amortized Cost, Treasury Bill Dec 31, 2021 71.84 Interest Revenue 7184 (To record interest revenue on treasury bill) Feb. 15.2022 Cash Long term Investments - Term Deposit . Feb 28.2022 (To record interest revenue on treasury billy Feb. 28, 2012 recordamatusubill Question 1 of 3 -13 Grouper Inc. has a seasonal business with some periods during the year where cash is abundant and needs to be invested in the short term until it is needed later on in the business cycle. The following are the transactions that occurred for Grouper Inc. near the end of its fiscal year ended December 31, 2021 and the early part of 2022. Nov. 15,2021 Purchased a term deposit at National Trust for $58,000. The term deposit is for three months and will earn interest at 3.00% Nov. 30, 2021 Purchased a three month treasury bill with a face value of $20,500 and a purchase price of $20,284. The market rate of interest is 425% for this type of investment. Feb 15, 2022 The National Therarmdannet mat Feb. 28,2022 The Long-term investments - Term Depok Bonds Payable Cash Record the above transa Long-term investments - Treasury om mal entries at December 31, 2021. (Credit account titles are automatically indented Inventions at Amortired Cont, Treasury om Wally. If no entry is required, select "No Entry for the account titles and enter for the Interest Payable Interest Ravenue 3.5.276) Interest Receivable Date Investments at Amortized Cost Term Deposit Debit Credit Lont term investiments-Term Deport Cash - Nov. 15. 2021 58000 58000 Nov. 30, 2021 Investments at Amortired Cost Treasury Bill 20984 Co 20284 Dec 31, 2021 Interest Receivable 217.5 2175 Interest Revenue (To record accrual of interest) Investments at Amortized Cost, Treasury Bill Dec 31, 2021 71.84 Interest Revenue 7184 (To record interest revenue on treasury bill) Feb. 15.2022 Cash Long term Investments - Term Deposit . Feb 28.2022 (To record interest revenue on treasury billy Feb. 28, 2012 recordamatusubill
