Stevens Corporation, during the year ended October 31, 2024, had the following transactions for money-market instruments purchased to earn interest: 

Jan. 2 Purchased a 120-day, $40,000 treasury bill maturing on May 1 for $39,760. 

May 1 The treasury bill matured. 

Aug. 1 Invested $65,000 in a money-market fund. 

31 Received notification that $163 of interest had been earned and added to the fund. 

Sept. 30 Received notification that $163 of interest had been earned and added to the fund. 

Oct. 1 Purchased a 90-day, 2.4%, $30,000 treasury bill for $29,821. 

15 Cashed the money-market fund and received $65,408. 

Instructions 

a. Prepare the journal entries to record the above transactions. 

b. Prepare any required adjusting journal entries at October 31.