Bentz Corporation bought and sold several securities during 2024. Listed below is a summary of the transactions: February 17 Purchased $103,000 of U.S. Treasury 7% bonds at par plus accrued interest of $1,100. The security is 1 Purchased 510 shares of Gauges Incorporated common stock at $141 per share. This security will be hel time. August 8 Sold 110 shares of Gauges Incorporated for $151 per share. April 10 October 5 Sold half of the U.S. Treasury bonds for $52,000 plus accrued interest of $310. Required: Prepare the journal entries for the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Bentz Corporation bought and sold several securities during 2024. Listed below is a summary of the transactions:
February 17 Purchased $103,000 of U.S. Treasury 7% bonds at par plus accrued interest of $1,100. The security is 1
April 10 Purchased 510 shares of Gauges Incorporated common stock at $141 per share. This security will be hel
time.
August 8 Sold 110 shares of Gauges Incorporated for $151 per share.
October 5 Sold half of the U.S. Treasury bonds for $52,000 plus accrued interest of $310.
Required:
Prepare the journal entries for the above transactions.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
2
3
Date
August 08
Note: Enter debits before credits.
4
Record the updation of the fair value adjustment.
5
General Journal
6
Debit
Check my work
Credit
>
Transcribed Image Text:Bentz Corporation bought and sold several securities during 2024. Listed below is a summary of the transactions: February 17 Purchased $103,000 of U.S. Treasury 7% bonds at par plus accrued interest of $1,100. The security is 1 April 10 Purchased 510 shares of Gauges Incorporated common stock at $141 per share. This security will be hel time. August 8 Sold 110 shares of Gauges Incorporated for $151 per share. October 5 Sold half of the U.S. Treasury bonds for $52,000 plus accrued interest of $310. Required: Prepare the journal entries for the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 2 3 Date August 08 Note: Enter debits before credits. 4 Record the updation of the fair value adjustment. 5 General Journal 6 Debit Check my work Credit >
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