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.
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.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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