Monkey Mortgage Inc. engaged in the following non-strategic investment transactions during 2020: 2020 Jan. 1 Purehased for $407,824 a 6.5, 5401,000 Jaguar Corp. bond that natures is tive yeers whes the sarket intecest rate van 6.1s. Interest ia paid seniannually beginning June 36, 2017. Honkey Mortgage Ine. plane to eld thie investnent until maturity. Mar. I Bought 6,100 shares of Mule corp., paying $32.60 per share. May 7 Received dividenda of $1.00 per share on the Mule Corp. shares. Aug. 1 Sold the Mule Corp. shares for $32.85 per share. Required: 1. Prepare the entries to record the transactions described above. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) View transaction list
Monkey Mortgage Inc. engaged in the following non-strategic investment transactions during 2020: 2020 Jan. 1 Purehased for $407,824 a 6.5, 5401,000 Jaguar Corp. bond that natures is tive yeers whes the sarket intecest rate van 6.1s. Interest ia paid seniannually beginning June 36, 2017. Honkey Mortgage Ine. plane to eld thie investnent until maturity. Mar. I Bought 6,100 shares of Mule corp., paying $32.60 per share. May 7 Received dividenda of $1.00 per share on the Mule Corp. shares. Aug. 1 Sold the Mule Corp. shares for $32.85 per share. Required: 1. Prepare the entries to record the transactions described above. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) View transaction list
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Monkey Mortgage Inc. engaged in the following non-strategic investment transactions during 2020
2020
Jan. 1 Purehaned for $407,024 a 6.51, 9401,000 Jaguar Corp. bond that matures is tive years when the narket interest
rate van 6.1s. Interent is paid semiannunlly beginning June J0, 2017. Monkey Moetgage Ine. plane to hold this
investment until maturity.
Mar. I Bought 6, 100 shares of Mule Corp., paying $32.60 per share.
May
7 Received dividends of $1.00 per share on the Mule Corp. shares.
Aug. 1 Sold the Mule Corp. shares for $32.85 per share.
Required:
1. Prepare the entries to record the transactions described above. (Do not round intermediate calculations. Round your final answers
to the nearest whole dollar amount.)
View transaction list
Journal entry worksheet
3 4
2
Record the purchase of a 5-year, 6.5%, $401,000 bond to be held as a
investment.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
Jan 01, 2020
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