Question 3 (20 Marks) Prepare journal entries to record the following transactions involving both the short-term and long-term investments of Sophia Corp., all of which occurred during calendar year 2011. Use the account Short-Term Investments for any transactions that you determine are short term. a. On February 15. paid $150,000 cash to purchase American General's 120-day short-term notes at par, which are dated February 15 and pay 10% interest (classified as held-to-maturity b. On March 22, bought 700 shares of Frain Industries common stock at $25 cash per share plus a $250 brokerage fee (classified as long-term available-for-sale securities). c. On June 15, received a check from American General in payment of the principal and 120 days interest on the notes purchased in transaction a d. On July 30, paid $50,000 cash to purchase MP3 Electronics" 8% notes at par, dated July 30 2011, and maturing on January 30, 2012 (classified as trading securities) e. On September 1, received a $0.50 per share cash dividend on the Frain Industries common stock purchased in transaction b. 1. On October 8, sold 350 shares of Frain Industries common stock for $32 cash per share. lesa $175 brokerage fee g. On October 30, received a check from MP3 Electronics for three months interest on the notes purchased in transaction d