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Ryder Company, which began operations in 2011, invests its idle cash in trading securities. The following transactions are from its short-term investments in its trading securities. 2011 Jan 20 Purchased 1,000 shares of Ford Motor Co. at $26 per share plus a $125 commission. Feb 9 Purchased 2,700 shares of Lucent at $32 per share plus a $195 commission. Oct 12 Purchased 760 shares of Z-Seven at $7.60 per share plus a $95 commission.2012 Apr 15 Sold 1,000 shares of Ford Motor Co. at $29 per share less a $295 commission. July 5 Sold 760 shares of Z-Seven at $10.25 per share less a $90 commission. July 22 Purchased 1,700 shares of Hunt Corp. at $32 per share plus a $225 commission.Aug 19 Purchased 1,900 shares of Donna Karan at $14 per share plus a $100 commission.2013 Feb 27 Purchased 3,700 shares of HCA at $32 per share plus a $420 commission. Mar 3 Sold 1,700 shares of Hunt at $27 per share less a $130 commission.June 21 Sold 2,700 shares of Lucent at $29.75 per share less a $37 commission. June 30 Purchased 1,400 shares of Black & Decker at $47.50 per share plus a $595 commission. Nov 1 Sold 1,900 shares of Donna Karan at $24.00 per share less a $119 commission.1. Prepare journal entries to record these short-term investment activities for the years shown. (Ignore any year-end adjusting entries.) (Input all amounts as positive values. Omit the “$” sign in your response.)
DateJan 20Feb 9 Oct 122012Apr 15 July 5 July 22 Aug 192013Feb 27Mar 3 June 21 June 30 Nov 1 AccountTrading securitiesCash Debit Credit26,12526,125 Trading securitiesCash 86,595 Trading…
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