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urgent needed Monkey Mortgage Inc. engaged in the following non-strategic investment transactions during 2020 . 2020 Jan. 1 Purchased for $489,686 a 7.5%,$483,000 Jaguar Corp.
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Monkey Mortgage Inc. engaged in the following non-strategic investment transactions during 2020 . 2020 Jan. 1 Purchased for $489,686 a 7.5%,$483,000 Jaguar Corp. bond that atures in five years when the market interest rate was 7.17. Interest is paid semiannually beginning June 30, 2017. Monkey Mortgage. Tnc. plans to hold this investment until maturity. Mar. 1 Bought 6,300 shares of Mule corp., paying $32.80 per share. May 7 Received dividends of $1.20 per share on the Mule Corp. shares. June 1 Paid $319,09 for 21,150 shares of zebra comon shares. June 39 Received interest on the Jaguar bond. Aug. 1 Sold the Mule Corp. shares for $33.05 per share: Dec. 31 Received interest on the Jaguar bond. Dec. 31 The fair value of the Zebra shares on this date was $15. 00 per share. Assume the fair value of the bonds equalled the carrying value. 2021 7an. 14 sold the Zebra shares for $14.80. Required: 1. Prepare an amortization schedule for the Jagrawnand showing only 2020 and 2021 . (Enter all theiampunts as positive va? inswers to the neacest wholectollar omod 2. Prepare the entries to record the transactions described above. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Journal entry worksheet Record the purchase of a 5 -year, 7.5%,$403,000 bond to be held as a investment. Note: Enter debits before credits. 2. Prepare the entries to record the transactions described above. (Do not round intermedia answers to the nearest whole dollar amount.) 2 Record the purchase of 6,300 shares. 3 Record the collection of dividend income. 4 Record the purchase of investment. 5 Record the receint of interast.on the Jagu? 6 Record the sale of investment. 7 Record the receipt of interest on the Jaguar bond. 8 Record the fair value adjustment. 9 Record the sale of investment. Note : = journal entry has been entered 3. Show how the investments would be reported on Monkey's December 31,2020 , balance sheet. (Do not round intermediate calculations. Round your final answers to the nearest whole doller amount.) Step by Step Solution
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