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Coronado Company invests $ 9 , 0 0 0 , 0 0 0 in 4 % fixed rate corporate bonds on January 1 , 2
Coronado Company invests $ in fixed rate corporate bonds on January All the bonds are classified as availableforsale and are purchased at par. At yearend, market interest rates have declined, and the fair value of the bonds is now $ Interest is paid on January
Prepare journal entries for Coronado Company to a record the transactions related to these bonds in assuming Coronado does not elect the fair option; and b record the transactions related to these bonds in assuming that Coronado Company elects the fair value option to account for these bonds. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter O for the amounts.
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