value: 0.00 points Exercise 15-6 Transactions in short-term and long-term investments LO P1, P2, P3 a. On February 15, paid $110,000 cash to purchase American General's 90-day short-term notes at par which are dated February 15 and pay 8% interest (classified as held-to-maturity). b. On March 22, bought 550 shares of Fran Industries common stock at $22 cash per share plus a $110 brokerage fee (classified as long-term available-for-sale securities) c. On May 15, received a check from American General in payment of the principal and 90 days' interest on the notes purchased in transaction a d. On July 30, paid $33,000 cash to purchase MP3 Electronics, 7% notes at par, dated July 30, 2015, and , 2016 (classified as trading secu rities) maturing on January 30 e. On September 1, received a $0.26 per share cash dividend on the Fran Industries common stock purchased in transaction b f. On October 8, sold 275 shares of Fran Industries common stock for S28 cash per share, less a $90 brokerage fee g. On October 30, received a check from MP3 Electronics for three months' interest on the notes purchased in transaction d Prepare journal entries to record the above transactions involving both the short-term and long-term investments of Cancun Corp., all of which occurred during calendar-year 2015. Use the account Short-Term Investments for any transactions that you determine are short term. (Use 360 days in a year. Do not round your intermediate calculations.) View transaction list Journal entry worksheet On February 15, paid $110,000 cash to purchase American General's 90-day short-term notes at par, which are dated February 15 and pay 8% interest (classified as held-to-maturity) Note: Enter debits before credits Transaction General Journal Debit Credit