Prepare journal entries to record the following transactions involving the 156610

Prepare journal entries to record the following transactions involving the short-term securities investments of Maxwell Co., all of which occurred during year 2011.
a. On February 15, paid $100,000 cash to purchase FTR’s 90-day short-term debt securities ($100,000 principal), dated February 15, that pay 8% interest (categorized as held-to-maturity securities).
b. On May 16, received a check from FTR in payment of the principal and 90 days’ interest on the debt securities purchased in transaction a.


$1.99
Sales 0
Views 220
Comments 0
  • CreatedDecember 27, 2012
  • Files Included
Advertisment Here