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Prepare any required adjusting journal entry at october

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Reference no: EM132600169

Blue Spruce Corporation, during the year ended October 31, 2021, had the following transactions for money-market instruments purchased to earn interest:

Jan.2

Purchased a 100-day, $35,200 treasury bill maturing on May 1 for $34,989.

May 1

The treasury bill matured.

Aug. 1

Invested $57,200 in a money-market fund.

Aug. 31

Received notification that $143 of interest had been earned and added to the fund.

Sept. 30

Received notification that $143 of interest had been earned and added to the fund.

Oct.1

Purchased a 120-day, 2.8%, $26,400 treasury bill for $26,216.

Oct. 15

Cashed the money-market fund and received $57,558.

Question 1: Prepare the journal entries to record the above transactions

Question 2: Prepare any required adjusting journal entry at October 31.

Reference no: EM132600169

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