Prepare Natura Company's journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year. a. On June 15, paid $180,000 cash to purchase Remed's 90-day short-term debt securities ($180,000 principal dated June 15, that pay 7% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. Note: Use 360 days in a year. Do not round your intermediate calculations. View transaction list Journal entry worksheet
Prepare Natura Company's journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year. a. On June 15, paid $180,000 cash to purchase Remed's 90-day short-term debt securities ($180,000 principal dated June 15, that pay 7% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. Note: Use 360 days in a year. Do not round your intermediate calculations. View transaction list Journal entry worksheet
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Prepare Natura Company's journal entries to record the following transactions involving its short-term
investments in held-to-maturity debt securities, all of which occurred during the current year.
a. On June 15, paid $180,000 cash to purchase Remed's 90-day short-term debt securities ($180,000 principal),
dated June 15, that pay 7% interest.
b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the
debt securities purchased in transaction a.
Note: Use 360 days in a year. Do not round your intermediate calculations.
View transaction list
Journal entry worksheet
<
1
2
On June 15, paid $180,000 cash to purchase Remed's 90-day short-term debt
securities ($180,000 principal), dated June 15, that pay 7% interest.
Note: Enter debits before credits.
Transaction
a.
Record entry
General Journal
Clear entry
Debit
Credit
View general journal
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