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In the Journal Provided,prepare the Entries for the Transactions Described $78,000 \$ 78,000

Question 40

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In the journal provided,prepare the entries for the transactions described below.(Omit explanations.)
May 5 Purchased 120 -day Treasury bills for $78,000 \$ 78,000 . This investment will be held to maturity.

Sept. 2 Treasury bils matured; $80,000 \$ 80,000 received. (No prior entries were made to recognize revenue.) In the journal provided,prepare the entries for the transactions described below.(Omit explanations.) May 5 Purchased 120 -day Treasury bills for \$ 78,000 . This investment will be held to maturity. Sept. 2 Treasury bils matured; \$ 80,000 received. (No prior entries were made to recognize revenue.)

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