If I bought a short term investment for $5,000 the journal entry is:

Mktbl Securities $5,000
Cash $5,000

Now I sold the short-term investment securities purchased and the net proceeds of $5,500 were received in cash... what journal entry is needed?

Cash $5,500
Mktbl Securities $5,000
Gain $500

Is this correct? Because for some reason I cannot get my trial balance to balance!

Thanks!

When do you recognise revenue on the sale of long term investment when there is a deferred payment.

If I receive $4.50 and must receive $6.15 in 2011. How would I journalise the money received now and would I record any gain now

When do you recognise revenue on the sale of long term investment when there is a deferred payment.

If I receive $4.50 and must receive $6.15 in 2011. How would I journalise the money received now and would I record any gain now