Question: On March 31 Logan Company invested 129 000 in U S Treasury
On March 31, Logan Company invested $129,000 in U.S. Treasury bills. The bills mature in 90 days at $130,000. Prepare journal entries to record the purchase on March 31; the adjustment to accrue interest on April 30, which is the end of the fiscal year; and the receipt of cash at the maturity date of June 29.
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