QS C$-3($Algo$)$ Accownting for debt investments classified as trading LO P$1$

Prepare Hertog Company's journal entries to record the following transactions for the current year.

May $7$ Purchases Kraft bonds as a short$-$term investment in trading securities at a cost of $$10,430.$ June $6$ Sells its entire investment in Kraft bonds for $$10,880$ cash.

Journal entry worksheet

$12$

References

Purchases Kraft bonds as a short$-$term investment in trading securities at a cost of $$10,430.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$May $07,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$