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 06

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Liability Transactions The following items were selected from among the transactions completed by Sherwood Co. during the current year: Feb. 15. Purchased merchandise on account from Kirkwood Co., $144,000, terms n/30. Mar. 17. Issued a 60-day, 7% note for $144,000 to Kirkwood Co., on account. May 16. Paid Kirkwood Co. the amount owed on the note of March 17. June 15. Borrowed $168,000 from Triple Creek Bank, issuing a 60-day, 8% note. July 21. Purchased tools by issuing a $84,000, 90-day note to Poulin Co., which discounted the note at the rate of 7%. Aug. 14. Paid Triple Creek Bank the interest due on the note of June 15 and renewed the loan by issuing a new 60-day, 10% note for $168,000. (Journalize both the debit and credit to the notes payable account.) Oct. 13. Paid Triple Creek Bank the amount due on the note of August 14. Oct. 19. Paid Poulin Co. the amount due on the note of July 21. Dec. 1. Purchased office equipment from Greenwood Co. for $144,000, paying…

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 $180,000 cash to purchase Remed's 90-day short-term debt securities ($180,000 principal), dated June 15, that pay 7% 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. Note: Use 360 days in a year. Do not round your intermediate calculations. View transaction list Journal entry worksheet < 1 2 On June 15, paid $180,000 cash to purchase Remed's 90-day short-term debt securities ($180,000 principal), dated June 15, that pay 7% interest. Note: Enter debits before credits. Transaction a. Record entry General Journal Clear entry Debit Credit View general journal