Styles Problem 1 - Investment Accounting - Chapter 5 (6 Pts. Each / Total 18 Pts.) The following transactions occurred in the City of Mimosa during fiscal year 20X4 (all amounts are in thousands of dollars): 1. Purchased investments in long-term participating interest-bearing securities, $3,000 2. Collected interest on its investments of $200. 3. Sold 10% of the investments for $304. 4. Purchased 6-month U.S. Treasury Bills for $100. 5. Accrued interest at year end amounted to $15. 6. The fair value of the investments in long-term participating interest-bearing securities at year end was $2,620. The fair value of the investments in U.S. Treasury Bills at year end was $99. Requirements: 1. Prepare the journal entries for each of these transactions. 2. What is the total interest revenue to be reported for FY 20X4? SHOW ALL WORK 3. Indicate the impact of each of the transactions on the Balance Sheet equation. Ifa transaction has no effect or if the net effect is zero, indicate it with "NE". Requirement #1 + Accounts Debit Credit - 1 2 3 4 5 6