On February 15, Jewel Company buys notes of Marcelo Corp. for $201,210. The investment is classified as long-term available-for-sale securities. This is the company’s first and only investment in available-for-sale securities. The journal entry to record the purchase on February 15 is:a. Debit Debt Investments—HTM $201,210; b. credit Cash $201,210. Debit Debt Investments—AFS $201,210; c. credit Notes Payable $201,210. Debit Debt Investments—Trading $201,210; d. credit Cash $201,210. Debit Debt Investments—Trading $201,210; e. credit Notes Payable $201,210. Debit Long-Term Investments—AFS $201,210; credit Cash $201,210.
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On February 15, Jewel Company buys notes of Marcelo Corp. for $201,210. The investment is classified...
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