Prepare Hertog Company’s journal entries to record the following transactions for the current year. May 7 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,300. June 6 Sells its entire investment in Kraft bonds for $11,050 cash.
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Prepare Hertog Company’s
May 7 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,300.
June 6 Sells its entire investment in Kraft bonds for $11,050 cash.
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- On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $1,000 for $104,000. The bonds had a stated rate of 6% and paid interest semi-annually. What is the journal entry to record the first payment to the bondholders?1.Prepare Hertog Company’s journal entries to record the following transactions for the current year. May 7 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,830. June 6 Sells its entire investment in Kraft bonds for $11,330 cashPrepare Hertog Company's journal entries to record the following transactions for the current year. May 7 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,990. June 6 Sells its entire investment in Kraft bonds for $11,510 cash. View transaction list Journal entry worksheet 1 2 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,990. Note: Enter debits before credits. Date May 07 Record entry General Journal Clear entry Debit Credit View general journal >
- Prepare Hertog Company’s journal entries to record the following transactions for the current year. May 7 Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,270. June 6 Sells its entire investment in Kraft bonds for $10,700 cash Purchases Kraft bonds as a short-term investment in trading securities at a cost of $10,270. Note: Enter debits before credits. Date General Journal Debit Credit May 07 Sells its entire investment in Kraft bonds for $10,700 cash. Note: Enter debits before credits. Date General Journal Debit Credit June 06Prepare Garzon Company’s journal entries to record the following transactions for the current year. Jan. 1 Purchases 6% bonds (as a held-to-maturity investment) issued by PBS at a cost of $40,000, which is the par value. July 1 Receives first semiannual payment of interest from PBS bonds. Dec. 31 Receives a check from PBS in payment of principal ($40,000) and the second semiannual payment of interest.Prepare Garzon Company's journal entries to record the following transactions for the current year. January 1 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. June 30 Receives first semiannual payment of interest from PBS bonds. December 31 Receives a check from PBS in payment of principal ( $52,800) and the second semiannual payment of interest. View transaction list Journal entry worksheet 1 2 > Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. Note: Enter debits before credits. Date General Journal Debit Credit January 01 Record entry Clear entry View general journal
- Prepare Garzon Company's journal entries to record the following transactions for the current year. Jan. 1 Purchases 9% bonds (as a held-to-maturity investment) issued by PBS at a cost of $44,000, which is the par value. July 1 Receives first semiannual payment of interest from PBS bonds. Dec. 31 Receives a check from PBS in payment of principal ($44,000) and the second semiannual payment of interest. Purchases 9% bonds (as a held-to-maturity investment) issued by PBS at a cost of $44,000, which is the par value. Note: Enter debits before credits. Date General Journal Debit Credit Jan. 1 Receives first semiannual payment of interest from PBS bonds. Note: Enter debits before credits. Date General Journal Debit Credit Jul. 1 Receives a check from PBS in payment of principal ($44,000) and…Prepare Krum Company's journal entries to record the following transactions involving its short-term investments in available-for-sale debt securities, all of which occurred during the current year. a. On August 1, paid $66,000 cash to purchase Houtte's 12%, six-month debt securities ($66,000 principal), dated August 1. b. On October 30, received a check from Houtte for 90 days' interest on the debt securities in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.) View transaction list Journal entry worksheet 1 2 On August 1, paid $66,000 cash to purchase Houtte's 12% six-month debt securities ($66,000 principal), dated August 1. a. Note: Enter debits before credits. Transaction General Journal Debit CreditPrepare Natura Company’s journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year. On June 15, paid $254,000 cash to purchase Remed’s 90-day short-term debt securities ($254,000 principal), dated June 15, that pay 9% interest. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. Note: Use 360 days in a year. Do not round your intermediate calculations.
- Prepare Krum Company's journal entries to record the following transactions involving its short-term investments in available-for-sale debt securities, all of which occurred during the current year. a. On August 1, paid $62,000 cash to purchase Houtte's 11%, six-month debt securities ($62,000 principal), dated August 1. b. On October 30, received a check from Houtte for 90 days' interest on the debt securities in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.) View transaction list Journal entry worksheet 1 On August 1, paid $62,000 cash to purchase Houtte's 11% six-month debt securities ($62,000 principal), dated August 1. 2 Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journalPrepare Natura Company’s journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year. On June 15, paid $210,000 cash to purchase Remed’s 90-day short-term debt securities ($210,000 principal), dated June 15, that pay 7% interest. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. Note: Use 360 days in a year. Do not round your intermediate calculations. On June 15, paid $210,000 cash to purchase Remed's 90-day short-term debt securities ($210,000 principal), dated June 15, that pay 7% interest. 2 On September 16, received a check from Remed in payment of the principal and 90 days’ interest on the debt securities purchased in transaction a.Prepare Natura Company's journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year. a. On June 15, paid $114,000 cash to purchase Remed's 90-day short-term debt securities ($114,000 principal), dated June 15, that pay 9% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.) View transaction list Journal entry worksheet 1 2 On June 15, paid $114,000 cash to purchase Remed's 90-day short-term debt securities ($114,000 principal), dated June 15, that pay 9% interest. Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal