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The following transactions were made by Allen Company. Assume all investments are short-term and are readily marketable, i.e., trading securities.
June 2 Purchased 600 shares of Snoop Corporation common stock for $35 per share.
July 1 Purchased 500 of Barr Corporations $1,000, 6% bonds at 104. The bond pay interest semiannually on July 1 and December 31.
30 Received a cash dividend of $0.50 per share from Snoop Corporation.
Sept. 15 Sold 150 shares of Snoop Corporation common stock investment for $40 per share.
Dec. 31 Received semiannual interest check from Barr Corporation.
31 Received a cash dividend of $0.75 per share from Snoop Corporation.
Instructions
Journalize the transactions.
Answer & Explanation
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