On March $17,2020,$ Union Corporation purchased $500$ bonds of AZQ

as a long$-$term investment at $$400$ per bond. On December $31,2020,$

and December $31,2021,$ the market value of the AZQ bonds is $$420$

and $$430,$ respectively.Required: $(1.)$ What is the appropriate reporting category for

this investment? Why? $(2.)$ Prepare the adjusting entry on December

$31,2020.(3.)$ Prepare the adjusting entry on December $31,$

$2021.$