The Old Country Company purchased the following instruments during the year. Assume the company's fiscal year end is January 31, 2022.
Dec 1 2021 Purchased a $ 5,000 120 day treasury bill for $ 4,935. The treasury bills are trading at a market rate of interest of 4% annually.
Feb 1, 2022 Purchased at 101 a $ 15,000, 5% 5 year Laurentian Bank of Canada bond. Interest is paid semi-annually. The market rate of interest was 3.5%. The bonds were purchased to trade.
Mar 30, 2022 Treasury bill matured.
Aug 1, 2022 Received interest on the Laurentian Bank of Canada bond.
Aug 2, 2022 Sold the Laurentian Bank of Canada bond at 99.
Instructions
Record the above transactions and any necessary adjusting entries for The Old Country Company required at January 31, 2022.

Question

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The Answer of The Old Country Company purchased the following instruments during the year. Assume the company's fiscal year end is January 31, 2022.
Dec 1 2021 Purchased a $ 5,000 120 day treasury bill for $ 4,935. The treasury bills are trading at a market rate of interest of 4% annually.
Feb 1, 2022 Purchased at 101 a $ 15,000, 5% 5 year Laurentian Bank of Canada bond. Interest is paid semi-annually. The market rate of interest was 3.5%. The bonds were purchased to trade.
Mar 30, 2022 Treasury bill matured.
Aug 1, 2022 Received interest on the Laurentian Bank of Canada bond.
Aug 2, 2022 Sold the Laurentian Bank of Canada bond at 99.
Instructions
Record the above transactions and any necessary adjusting entries for The Old Country Company required at January 31, 2022.

The Old Country Company Purchased the Following Instruments During the Year