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On February 1, 2018, Park Co. decides to invest excess cash of $17,200 by purchasing a Dixon, Inc. bond at face value. At year-end, December 31, 2018, the fair value of the Dixon bond was $19,900. The investment is categorized as a trading debt investment. Read the requirements Requirement 1. Journalize the transactions for Park's investment in Dixon, Inc. for 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Begin by journalizing Park's investment in the Dixon, Inc., bond. Date Accounts and Explanation Debit Credit Feb. 1 Journalize the adjustment, if required, at year-end, December 31, 2018. Dixon's market price was $19,900 per share. Date Accounts and Explanation Debit Credit Dec. 31 Requirement 2. In what category and at what value would Park report the asset on the December 31, 2018, balance sheet? In what account would the market price change in Dixon's bond be reported, if at all? classified as a on the balance sheet as of December 31. 2018. Park would report the asset at $ The market price change would Requirement 2. In what category and at what value would Park report the asset on the December 31, 2018, balance sheet? In what account would the market price change in Dixon's bond be reported, if at all? Park would report the asset at $ The market price change would classified as a on the balance sheet as of December 31, 2018 31, 2018? (Enter come has changed Requirement 3. What was the net "0" as the amount if net income has be reported in the Available for Sale Debt Investnut account be reported in the Equity Investments__Dixon account Park's net income for the year ende be reported in the Held-to-Maturity Debt Investraent account is $ be reported in the Trading Debt Investment account be reported in the Unrealized Holding Gain-Trading account Choose from any list or enter any be reported in the Unrealized Holding Loss-Trading account not be reported Requirement 2. In what category and at what value would Park report the asset on the December 31, 2018 balance sheet? what account would the market price change in Dixon's bond be reported, if at all?! on the balance sheet as of December 31 Park would report the asset at $ classified as a Jy 2018 The marke Requirem current asset the year ended December 31, 2018? (Enter "0" as the current liability long-term asset Park's net long-term liability e amount by which net income has changed Requirement 3. What was the net effect of the investment on Park's net income for the year ended December 31, 2018? (Enter "0" as the amount it net income has not changed.) Park's net income for the year ended December 31, 2018, has The amount by which net income has changed decreased Choose from any list or enter any number in the input fields ar increased 2 to the next question Requirements 1. Journalize the transactions for Park's investment in Dixon, Inc. for 2018. 2. In what category and at what value would Park report the asset on the December 31, 2018, balance sheet? In what account would the market price change in Dixon's bond be reported, if at all? 3. What was the net effect of the investment on Park's net income for the year ended December 31, 2018? Print Done Done