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help pleass ?!! On December 31, 2021, Poart Corporation holds debt investments in bonds of three companies Gold Company 10%, 3,000,000 par value bonds to
help pleass ?!!
On December 31, 2021, Poart Corporation holds debt investments in bonds of three companies Gold Company 10%, 3,000,000 par value bonds to yield 11% Silver Company, 8 % $1,800,000 par value bonds to yield 10% Moonlight Company 9%, $2,000,000 par value bonds to yiol 7% All the three investments in bonds mature January 1, 2025 and pay interest semiannually every July 1 and January 1, and all of them are held by Pearl Corporation for trading Tho amortized costs for the three debt investments on December 31, 2021 were $2873,064, 31,721 304, and 52,300,000 respectively if the faces of all the bonds were $2,800,000 for Gold $1,000,000 for Silver and $2,350,000 for Moonlight, and the provious balance of ue realized gain or loss on December 31 2020, was $21,384 Required: a) Compute the unrealized gain or loss on December 31, 2021, for each investment and for total and prepare the necessary adjusting entry b) Assume that Silver bonds are held for collection Is there any adjustment needed, and what is the adjusting entry if any harres ALT F10 IPC) O ALTF10 (Mac Step by Step Solution
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