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Swifty Traders Inc. has cyclical cash flows and decided to invest some excess cash on hand by purchasing a short-term 60-day Government of Canada

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Swifty Traders Inc. has cyclical cash flows and decided to invest some excess cash on hand by purchasing a short-term 60-day Government of Canada treasury bill. On December 15, 2020, Swifty paid $139.085 for a treasury bill that has a maturity amount of $140,000, a maturity date of February 13, 2021, and a yield of 4%. Swifty accounts for this investment using the amortized cost model. Prepare (a) the entry for the purchase. (b) any year-end accrual entry at December 31, 2020, and (c) the entry at the maturity of the treasury bill. (Hint: Use the account Note Investment at Amortized Cost.) (Credit account titles are automatically Indented when the 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 Attempts: 0 of 1 used Submit Answer Save for Later

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