The Fishing Store is a chain of sporting goods stores. The Fishing Store is interested in using some of its excess cash to invest in securities. It decides to buy the following securities:
|
Security |
Type |
Price |
|
Fea Company |
Available for sale |
$ 4,000 |
|
Herdsman, Inc. |
Trading |
7,500 |
|
Lenny Company |
Available for sale |
3,200 |
|
White Company |
Held to maturity |
10,000 |
Prepare the journal entry to record the purchase of these securities.