On December 2, 2024, Nudesign Furniture Ltd. purchased a $150,000, Canadian government 120-day treasury bill for $148,900.
Question:
On December 2, 2024, Nudesign Furniture Ltd. purchased a $150,000, Canadian government 120-day treasury bill for $148,900. On December 31, $275 of interest had accrued on the treasury bill. On April 1, 2025, the treasury bill matured. Prepare the journal entries to record the
(a) Purchase of the treasury bill
(b) Accrual of interest on December 31, 2024
(c) Receipt of cash on April 1, 2025.
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Related Book For 
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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