a. On February 15, paid $160,000 cash to purchase GMI's 90-day short-term notes at par, which are dated February 15 and pay 9% Interest (classified as held-to-maturity).
b. On March 22, bought 750 shares of Fran incorporated common stock at $22 cash per share. Cancun's stock investment results in it having an insignificant influence over Fran.
c. On May 15, received a check from GMI in payment of the principal and 90 days interest on the notes purchased in part a
d. On July 30, paid $48.000 cash to purchase MP Incorporated's 8%, six-month notes at par, dated July 30 (classified as trading securities)
e. On September 1, received a $0.50 per share cash dividend on the Fran Incorporated common stock purchased in part b f. On October 8, sold 375 shares of Fran Incorporated common stock for $28 cash per share.
g. On October 30, received a check from MP Incorporated for three months' interest on the notes purchased in part d
Prepare journal entries to record the above transactions involving both the short-term and long-term investments of Cancun Corporation, all of which occurred during the current year (Use 360 days in a year. Do not round your intermediate calculations.
Round your answers to the nearest whole dollar.)