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12. Investment in Debt Securities- Available for Sale. Matisse Corporation purchased SI million of Thybulle Company 6% bonds at par on July 1, 2018, with
12. Investment in Debt Securities- Available for Sale. Matisse Corporation purchased SI million of Thybulle Company 6% bonds at par on July 1, 2018, with interest payable on June 30th and December 31st of each year. Matisse determined that it should account for the bonds as an AFS investment. Due to a decline in market interest rates, at December 31, 2018 the bonds had a fair market value of $1.1 million. Matisse sold the Thybulle Company bonds orn July 1, 2019 for $1.2 million A. Prepare the following journal entries for Matise: Purchase of the bonds on July 1, 2018 a. b. Interest revenue received on December 31, 2018 c. The unrealized gain at December 31, 2018 d. Interest revenue received on June 30. 2018 The sale of the bonds on July 1, 2019, including updating the fair value adjustment, recording any reclassification from OCI, and the sale of the bonds e
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