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Bentz Corporation bought and sold several securities during 2006. Listed below is a summary of the transactions.
February 17 Purchased $102,000 of U. S. Treasury 6% bonds at par plus accrued interest of $1,000. The security is to be held for short term profits.
April 10 Purchased 500 shares of Gauges Inc. common stock at $140 per share. This security will be held for an unspecified period of time.
August 8 Sold 100 shares of Gauges Inc. for $150 per share.
October 5 Sold half of the U. S. Treasury bonds for 51,500 plus accrued interest for $300.
Prepare the journal entries for the above transactions. Show calculations.
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