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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 2
Prepare journal entries to record the following transactions involving the short-term securities investments of Natura Co., all of which occurred during year 2015.
a. On June 15, paid $1,000,000 cash to purchase Remedy's 90-day short-term debt securities ($1,000,000 principal), dated June 15, that pay 10% interest (categorized as held-to-maturity securities).
b. On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transaction a.
a. On June 15, paid $1,000,000 cash to purchase Remedy's 90-day short-term debt securities ($1,000,000 principal), dated June 15, that pay 10% interest (categorized as held-to-maturity securities).
b. On September 16, received a check from Remedy in payment of the principal and 90 days' interest on the debt securities purchased in transaction a.
Explanation
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Held-to-maturity securities are debt or ...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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