Business, 13.08.2021 01:00 carlosleblanc26

In January 2022, the management of Blossom Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred. Jan. 1 Purchased 75 $1,000, 8% TRC bonds for $75,000. Interest is payable annually on December 31.
Feb. 1 Purchased 1,295 shares of LAF common stock for $53,095.
Mar. 1 Purchased 540 shares of NCL common stock for $18,900.
July 1 Received a cash dividend of $0.80 per share on the LAF common stock.
Aug. 1 Sold 217 shares of LAF common stock at $40 per share.
Sept. 1 Received $2 per share cash dividend on the NCL common stock.
Dec. 31 Received the annual interest on the TRC bonds.
31 Sold the TRC bonds for $77,665.

At December 31, the fair values of the LAF and NCL common stocks were $37 and $28 per share, respectively. These stock investments by Blossom Company provide less than a 20% ownership interest.

Required:
Journaline the transactions and post to the accounts Debt Investments and Stacklestments.

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In January 2022, the management of Blossom Company concludes that it has sufficient cash to purchase...

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