Prepare journal entries for a trust You serve as the trustee for the Lisa Wyatt Trust. The following transactions occur during June and July 2015: June 1 Open the trust account, depositing the $1,000,000 transferred from the estate of Cheri James into a non-interest-bearing checking account to be used for trust investment and administration and for accumulation of interest and dividends received from trust investments. June 2 Deposit $500,000 into a two-year certificate of deposit earning 6 percent annually, with interest paid monthly June 3 Invest the remaining $500,000 in a stock mutual fund. July 2 Record deposit of one month's interest from the certificate of deposit to the trust- checking account July 3 Pay bank's trust administration monthly fee of $41. REQUIRED: Prepare journal entries for the listed transactions. You may ignore taxes. 1:151 12/21/2 ENG US E 23-9

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