Oscar Lloyd is the trustee for the Petra/Hobbes Trust.The following transactions occurred during 2011.Petra and Hobbes,two cats are going to reside with Oscar Lloyd,the trustee and devoted cat lover.
February 18 The Petra/Hobbes Trust was established at First State Bank by depositing $200,000 cash.
February 19 $195,000 was deposited into a three-year certificate of deposit earning 6% a year.Interest is paid semi-annually.$5,000 was deposited into a money market account paying 4% annual interest.Interest is paid on the average daily balance for the past year.
February 20 Paid $368 for cat food,cat toys,and kitty litter at Cats R Us.
February 24 Bought assorted cat DVDs for Hobbes and Petra.The DVDs were a combination of fish,bird,and squirrel movies.Paid $182 for the DVDs.
June 25 Paid $405 for cat food,toys,and kitty litter.
August 19 Deposited one-half year's interest income of $5,850 into the money market account.
December 22 Paid $722 for cat food,cat toys,kitty litter,Christmas presents for Petra and Hobbes.
Required:
Prepare the necessary journal entries for the above transactions.You may ignore any tax effects.

Question

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The Answer of Oscar Lloyd is the trustee for the Petra/Hobbes Trust.The following transactions occurred during 2011.Petra and Hobbes,two cats are going to reside with Oscar Lloyd,the trustee and devoted cat lover.
February 18 The Petra/Hobbes Trust was established at First State Bank by depositing $200,000 cash.
February 19 $195,000 was deposited into a three-year certificate of deposit earning 6% a year.Interest is paid semi-annually.$5,000 was deposited into a money market account paying 4% annual interest.Interest is paid on the average daily balance for the past year.
February 20 Paid $368 for cat food,cat toys,and kitty litter at Cats R Us.
February 24 Bought assorted cat DVDs for Hobbes and Petra.The DVDs were a combination of fish,bird,and squirrel movies.Paid $182 for the DVDs.
June 25 Paid $405 for cat food,toys,and kitty litter.
August 19 Deposited one-half year's interest income of $5,850 into the money market account.
December 22 Paid $722 for cat food,cat toys,kitty litter,Christmas presents for Petra and Hobbes.
Required:
Prepare the necessary journal entries for the above transactions.You may ignore any tax effects.

Oscar Lloyd Is the Trustee for the Petra/Hobbes Trust