Question 2 of 3 4.93 / 20 III View Policies Show Attempt History Current Attempt in Progress In January 2022, the management of Foress Corporation, a publicly-traded company, decides that it has sufficient cash to purchase some debt and equity securities to be held as trading investments. During the year, the following transactions occurred. Feb. 1 Purchased 1,000 shares of NJF common shares for $44,000. Mar. 1 Purchased 500 shares of SEK common shares for $18,500. Apr. 1 Purchased 64 $1,000,8% CRT bonds for $65,300. Interest is receivable semi-annually on April 1 and October 1. July 1 Received a cash dividend of $0.60 per share on the NJF common shares. Aug. 1 Sold 210 shares of NJF common shares at $36.00 per share. Sept. 1 Received $2 per share cash dividend on the SEK common shares. Oct. 1 Received the semi-annual interest on the CRT bonds. Oct. 1 Sold the CRT bonds for $69,800. At December 31, Foress's fiscal year end, the fair values of the NJF and SEK common shares were $35 and $28 per share, respectively. (d) Your answer is partially correct. Record the above transactions, including required adjusting journal entries (if any). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. 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 Trading Investments 44,000 Cash 44, Mar. 1 Trading Investments 18,500 Cash 18, Apr. 1 65,300 Cash 65, July 1 Cash 600 July 1 Cash 600 Dividend Income 600 Aug. 1 Cash 7560 Realized Loss on Trading Investments 1680 Trading Investments 9240 Sept. 1 Cash 2612 Interest Receivable 2612 Oct. 1 (To record receipt of interest on CRT bonds.) (To record receipt of interest on CRT bonds.) Oct. 1 Cash 69800 Loss on Bond Redemption 65300 Realized Gain on Trading Investments 4500 (To record sale of CRT bonds.) Dec. 31 Unrealized Loss on Trading Investments 11610 Trading Investments 11610 (b) Show the statement of financial position presentation of the Trading Investments at December 31, 2022. FORESS CORPORATION Statement of Financial Position (Partial) $ Save for Later Attempts: 0 of 2 used Submit Answer Using multiple attempts will impact your score