#23-30 
Transactions 23 through 25 relate to one another. Prepare the journal entries as necessary. 23. What is the carrying amount of the bond after recognizing interest revenue on December 31, 2018 using the effective interest method? & 602,400 V 24. Assume Panther had purchased the bond with the ability and intent to hold it to full term. Record any required adjustment to fair value of $620,000 on December 31, 2018. 25. The bond was downgraded to a value of $580,000 on January 2, 2019. On that date Panther sold the entire investment. Journalize the entry for the sale. Transactions 26 through 28 relate to one another. Prepare the journal entries as necessary. 26. Assume Panther planned to buy the bonds and sell them about half-way to maturity. Record any required adjustment to fair value of $620,000 on December 31, 2018. 27. and 28. Panther sold the entire investment for its fair value of $640,000 on December 31, 2019. Journalize all necessary entries at the time of the sale, when the carrying amount of the bond was $607,000. 7 20 7.49 Transactions 29 and 30 relate to one another. Prepare the journal entries as necessary. 29. Assume Panther planned to buy and sell the bonds as a short-term, six-month investment. Record any required adjustment to fair value of $620,000 on December 31, 2018. 30. Panther sold the entire investment on December 31, 2018 for $608,000. Journalize the entry for the sale. Transactions 23 through 25 relate to one another. Prepare the journal entries as necessary. 23. What is the carrying amount of the bond after recognizing interest revenue on December 31, 2018 using the effective interest method? & 602,400 V 24. Assume Panther had purchased the bond with the ability and intent to hold it to full term. Record any required adjustment to fair value of $620,000 on December 31, 2018. 25. The bond was downgraded to a value of $580,000 on January 2, 2019. On that date Panther sold the entire investment. Journalize the entry for the sale. Transactions 26 through 28 relate to one another. Prepare the journal entries as necessary. 26. Assume Panther planned to buy the bonds and sell them about half-way to maturity. Record any required adjustment to fair value of $620,000 on December 31, 2018. 27. and 28. Panther sold the entire investment for its fair value of $640,000 on December 31, 2019. Journalize all necessary entries at the time of the sale, when the carrying amount of the bond was $607,000. 7 20 7.49 Transactions 29 and 30 relate to one another. Prepare the journal entries as necessary. 29. Assume Panther planned to buy and sell the bonds as a short-term, six-month investment. Record any required adjustment to fair value of $620,000 on December 31, 2018. 30. Panther sold the entire investment on December 31, 2018 for $608,000. Journalize the entry for the sale
