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yuradex [85]
3 years ago
13

Prepare Natura Co.’s journal entries to record the following transactions involving its short-term investments in held-to-maturi

ty debt securities, all of which occurred during the current year. a. On June 15, paid $120,000 cash to purchase Remed’s 90-day short-term debt securities ($120,000 principal), dated June 15, that pay 5% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.)

Business
1 answer:
Sliva [168]3 years ago
5 0

Answer: The answer has been attached below.

Explanation:

A journal entry is the record of the business transactions in an accounting books of a business. It is the first step in accounting cycle. The journal details all the financial transactions of a business. The accounts are either recorded in the credit or the debit side of accountings.

The calculation has been attached. Kindly note that the interest was gotten thus:

= 120,000 × 5% × 90/360

= 120,000 × 0.05 × 0.25

= 1500

The journal entry for the whole transactions has been attached.

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2 years ago
Mallory Furniture buys two products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 1
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Answer:

The answer is D

Explanation:

Solution:

Recall that:

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Storage space = 90 cubic feet,

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5 0
3 years ago
what does it mean to do a good job of managing human resources in, for instance, a hospital? What activities are involved, and f
Fynjy0 [20]

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4 0
3 years ago
A firm producing good y recently increased monthly production from​ 1,500 units to​ 2,000 units. this had no impact on the marke
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3 years ago
Bad Brads BBQ purchased a piece of equipment by paying $5,000 cash. They also incurred a shipping cost of $400 to get the equipm
rodikova [14]

Answer:

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Explanation:

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