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In the Journal Provided,prepare the Entries for the Transactions Described $78,000 \$ 78,000

question 40

Essay

In the journal provided,prepare the entries for the transactions described below.(Omit explanations.)
May 5 Purchased 120 -day Treasury bills for $78,000 \$ 78,000 . This investment will be held to maturity.

Sept. 2 Treasury bils matured; $80,000 \$ 80,000 received. (No prior entries were made to recognize revenue.)  In the journal provided,prepare the entries for the transactions described below.(Omit explanations.)  May 5 Purchased 120 -day Treasury bills for   \$ 78,000  . This investment will be held to maturity.  Sept. 2 Treasury bils matured;   \$ 80,000   received. (No prior entries were made to recognize revenue.)


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