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General Corporation purchased $14,000 of bonds with a coupon rate of 10% at face value on December 5, 2021. The market price of the bond

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General Corporation purchased $14,000 of bonds with a coupon rate of 10% at face value on December 5, 2021. The market price of the bond was $972,000 on December 31, 2021 Required: Prepare the appropriate journal entry on December 31, 2021, to properly value the bonds assuming the bonds are classified as: (if no entry is required for a transaction/event, select "No Journal entry required" In the first account field.) Ignore the journal entry for coupon payment and interest recognition 1. Trading securities 2. Securities available-for-sale. 3. Held-to-maturity securities View transaction list Journal entry worksheet 1 2 3 Record the unrealized holding gain or loss for trading securities Journal entry worksheet 1 2 3 > Record the unrealized holding gain or loss for trading securities. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal Journal entry worksheet

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