Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Chapter 15, Problem 3E
Prepare Natura Co.’s
- a. On June 15, paid $1,000 cash to purchase Remed’s 90-day short-term debt securities ($1,000 principal), dated June 15, that pay 10% 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 part a.
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Prepare Natura Co.’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 $1,000 cash to purchase Remed’s 90-day short-term debt securities ($1,000 principal), dated June 15, that pay 10% 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 part 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 $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
Prepare Natura Co.’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 $168,000 cash to purchase Remed’s 90-day short-term debt securities ($168,000 principal), dated June 15, that pay 10% 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.)
Chapter 15 Solutions
Principles of Financial Accounting.
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