Answer Happy

Exercise 15-5 (Algo) Accounting for available for-sale debt securities LO P3 Prepare Krum Company's journal entries to record the following transactions involving its short-term investments in available-for-sale debt securities, all of which occurred during the current year. a. On August 1, paid $72,000 cash to purchase Houtte's 9%, six-month debt securities ($72,000 principal), dated August 1. b. On October 30, received a check from Houtte for 90 days interest on the debt securities in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.) View transaction list Journal entry worksheet 1 2 On August 1, paid $72,000 cash to purchase Houtte's 9% six-month debt securities ($72,000 principal), dated August 1. Note: Enter debits before credits Transaction General Journal Debit Credit
View transaction list Journal entry worksheet < 1 2 On October 30, received a check from Houtte for 90 days' interest on the debt securities in transaction a. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal