On January 1, 2024, Brian Company purchased at par $800,000, 6 percent bonds issued by Laura Company
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On January 1, 2024, Brian Company purchased at par $800,000, 6 percent bonds issued by Laura Company to be held as available-for-sale securities. At December 31, 2024, the bonds had a fair value of $775,000. The bond investment was sold on July 1, 2025, for $802,000. Brian Company’s fiscal year ends on December 31. Record (1) the adjustment of the bond investment on December 31, 2024, and (2) the sale of the bonds on July 1, 2025. Ignore interest.
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December 31 2024 Unrealized loss OCI SE Investments A July 1 2025 Investment...View the full answer
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Related Book For 
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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