Accounting 9. On August 20, 2025, Mace Co. decides to invest excess cash of $4,400 by purchasing Buffalo, Inc. bonds. At year-end, December 31, 2025,
9. On August 20, 2025, Mace Co. decides to invest excess cash of $4,400 by purchasing Buffalo, Inc. bonds. At year-end, December 31, 2025, the market price of the bonds was $4,000. The investment is categorized as available-for-sale debt. Joumalize the adjusting entry needed at December 31, 2025. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 31, 2025
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Authors: Carl S. Warren, James M. Reeve, Philip E. Fess
20th Edition
0324025424, 978-0324025422
