FF&T Corporation is a confectionery wholesaler that frequently buys and sells securities to meet various investment objectives....

3.6 Ratings (356 Votes)

$ in Million	$ in Million
			Debit	Credit
1	Nov-01	Cash	$ 2.4
		Interest Revenue/Interest on Bonds	$ 2.4
		(to record receipt of intrest)

2	Dec.01	Investment in Facsimile Enterprise Bonds	$ 32
		Cash		$ 32
		(to record purchase of investment in bonds)

3	Dec-31	Investment in US Treasury bills	9.3
		Cash		9.3
		(to record purchase of us treasury bill)

4	Dec-31	Interest Accrued/Receivable (Convenience Inc. bond)	0.80
		Interest Revenue/Interest on Bonds	0.80
		*($40 million12%2/12)*

5	Dec-31	Interest Accrued/Receivable (Facsimile Enterprise Bonds)	0.40
		Interest Revenue/Interest on Bonds	0.40
		($32 million15%1/12)

6	Dec-31	Change in Fair Value	2.40
		Investment in Facsimile Enterprise Bonds (32.9-32)	0.90
		Investment in Convenience Inc. bond (40-36.7)	3.30

		OR

		Change in Fair Value	3.30
		Investment in Convenience Inc. bond	3.30

		Investment in Facsimile Enterprise Bonds	0.90
		Change in Fair Value		0.90

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