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The following transactions were made by Allen Company. Assume all investments are short-term and are readily marketable. June 2 July 1 30 Sept. 15 Dec.
The following transactions were made by Allen Company. Assume all investments are short-term and are readily marketable. June 2 July 1 30 Sept. 15 Dec. 31 31 Purchased 400 shares of Snoop Corporation common stock for $45 per share. Purchased 200 Barr Corporation bonds for $228,000. Received a cash dividend of $1.50 per share from Snoop Corporation Sold 120 shares of Snoop Corporation stock for $50 per share. Received semiannual interest check for $13,000 from Barr Corporation Received a cash dividend of $2 per share from Snoop Corporation Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record Journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record purchase of 400 shares of Snoop Corporation common stock) (To record purchase of 200 Barr Corporation bonds) purchid OP ZUU Dart Donos (To record receipt of cash dividend) (To record sale of Snoop Corporation stock) (To record receipt of interest on Barrr Corporation bonds) (To record receipt of cash dividend)
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