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6. In February 2022, Packard Corporation purchased the following financial assets. Prior to these purchases, Packard had no portfolio of investment securities. No. Security
6. In February 2022, Packard Corporation purchased the following financial assets. Prior to these purchases, Packard had no portfolio of investment securities. No. Security Type, Classification, Cost 1 Debt FVTPL, $11,500 2 Equity, FVTPL, 9,000 3 Equity, FVTOCI- Equity, 7,250 4 Debt, FVTOCI- Debt, 12,300 During 2022, Packard received 2, 400ininterestand 1,800 in dividends. On December 31, 2022, Packard's portfolio of securities had the following market values: Security Fair Market Value. 1 $12,000 2 8,750 3 7,500 4 12,500 Prepare the journal entries required to record each of these transactions. Question Group (18 Points) (1) To record the purchase of all the financial assets.
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