On June Josh's Restaurant decides to invest excess cash of $ from the tourist season by purchasing a Jackrabbit, Inc. bond at face value. At yearend, December Jackrabbit's bond had a market value of $ The investment is categorized as an availableforsale debt investment and will be held for the shortterm.
Read the requirements.
Requirement Journalize the transactions for Josh's investment in Jackrabbit, Inc. for 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
tableDateAccounts and Explanation,Debit,CreditJun
