July 1 e on the open market 10000 face value of gallatin

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Reference no: EM13604424

Swartz Inc. enters into the following transactions during 2010:

July 1: e on the open market $10,000 face value of Gallatin bonds. The bonds have a stated annual interest rate of 6% with interest paid semiannually on June 30 and December 31. The bonds mature in 5½ years.

Oct. 23: Purchased 600 shares of Eagle Rock common stock at $20 per share.

Nov. 21: Purchased 200 shares of Montana preferred stock at $30 per share.

Dec. 10: e on the Eagle Rock stock and $2.00 per share on the Montana stock.

Dec. 28: Sold 400 shares of Eagle Rock common stock at $25 per share.

Dec. 31: Received interest from the Gallatin bonds.

Required Prepare all necessary journal entries on Swartz's records to account for its investments during 2010.

Reference no: EM13604424

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