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On June 1,2018, Josh's Restaurant decides to invest excess cash of $54,400 from the tourist...

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Accounting

On June 1,2018, Josh's Restaurant decides to invest excess cash of $54,400 from the tourist season by purchasing a Jackrabbit, Inc. bond at face value. At year-end, December 31,2018, Jackrabbit's bond had a market value of $51,200. The investment is categorized as an available-for-sale debt investment and will be held for the short-term.
Read the requirements.
Requirement 1. Journalize the transactions for Josh's investment in Jackrabbit, Inc. for 2018.(Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.)
Begin by journalizing Josh's investment in the Jackrabbit, Inc., bond on June 1,2018.
\table[[Date,Accounts and Explanation,Debit,Credit],[Jun.1],[,,,],[,,,],[,,,],[,,,]]
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