wyectCK UI Assume that on September 15 Jerome, Inc., purchased debt investments as trading securities at a cost of $8,850. Prepare the September 15 journal entry for Jerome. Complete the necessary journal entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns View transaction list Journal entry worksheet 1 > Assume that on September 15 Jerome, Inc., purchased debt investments as trading securities at a cost of $8,850. Prepare the September 15 journal entry for Jerome. Complete the necessary Journal entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns Note Enter debit before credits General Journal Dobit Date Sept 15 Credit explanation Record entry Clear entry View general Journal Prev 1 SN 3 of 4 Next > The trading securities portfolio of Jerome, Inc., had a total cost of $3,000 and a fair value of $2,800 on December 31, which is the first year it held trading securities. Complete the necessary adjusting entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns View transaction lit Journal entry worksheet The trading securities portfolio of Jerome, Inc., had a total cost of $3,000 and a fair value of $2,800 on December 31, which is the first year it held trading securities. Complete the necessary adjusting entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns Note Enter debits before credits General Journal Debit Credit Dec 31 explanation 2 Jerome, Inc., paid $8,850 to make a debt investment in trading securities of Tedesco, Inc. On December 30, (within the same fiscal year), Jerome sold some of these debt securities that had a cost of $6,500 for $7000 cash. Complete the necessary adjusting entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns eBook Vww transaction ist . ASK Journal entry worksheet 1 > D Tedesco, Inc. On December 30, (within the same fiscal year), Jerome sold some of these debt securities that had a cost of $6,500 for $7,000 cash Complete the necessary adjusting entry by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns Hotel Enterdits before credits General Journal Debit Credit Date Dec 30 explanation Record RTY Clear em View general journal M Exercise 15-2 Accounting for debt Investments classified as trading LO P1 Brooks Co. purchases debt investments as trading securities at a cost of $66.000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair value of $72,000. 1. Prepare the December 27 entry for the purchase of debt investments. 2. & 3. Prepare the December 31 year-end fair value adjusting entry for the trading securities' portfolio and the January 3 entry when Brooks sells a portion of its trading securities (costing $3,000) for $4,000 cash. Complete this question by entering your answers in the tabs below. Reg 1 Req 2 and Prepare the December 27 entry for the purchase of debt investments, View transactions Journal entry worksheet 1 > Record purchase of trading securities, Note: Enebit before credits General Journal Debit Credit De 27 Record the year and adjustment to fair value, if any. General Journal Debit Credit Dec 31
