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G4 El7-6 (Fair value option) Refer to the information in E17.3 and assume that Roosevelt elected the fair value option for this held-for-collection investment. Instructions

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G4 El7-6 (Fair value option) Refer to the information in E17.3 and assume that Roosevelt elected the fair value option for this held-for-collection investment. Instructions (a) Prepare any entries necessary at December 31, 2010, assuming the fair value of the bonds is $540,000 (b) Prepare any entries necessary at December 31, 2011, assuming the fair value of the bonds is $525,000

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