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Help Save & Exit Submit Check my work purchased $1 million of Jackson, Inc., 5% bonds at par on July 1, 2018, with interest paid

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Help Save & Exit Submit Check my work purchased $1 million of Jackson, Inc., 5% bonds at par on July 1, 2018, with interest paid semi-annually. Colah Colah Company determined that it should account for the bonds as an available-for-sale investmen fair value of $1.2 million. Colah sold the Jackson bonds on July 1, 2019 for $900,000 At December 31, 2018, the Jackson bonds had a a. The purchase of the Jackson bonds on July 1 b. Interest revenue for the last half of 2018. c Any year-end 2018 adjusting entries. d. Interest revenue for the first half of 2019. e. Any entries necessary upon sale of the Jackson bonds on July 1, 2019, including updating the fair-value adjustment, recording any reclassification adjustment, and recording the sale. Required 1. Prepare Colah's journal entries for above transaction. 2. Fill out the following table to show the effect of the Jackson bonds on Colah's net income, other comprehensive income, and comprehensive income for 2018, 2019, and cumulatively over 2018 and 2019. Complete this question by entering your answers in the tabs below Fill out the following table to show the effect of the Jackson bonds on Colah's net i comprehensive income for 2018, 2019, and cumulatively over 2018 and 2019 ncome, other S 25,000 KPrex 4 of 10 E Next > Help Save & Exi Check b. Interest revenue for the last half of 2018. c. Any year-end 2018 adjusting entries. d. Interest revenue for the first half of 2019. e. Any entries necessary upon sale of the Jackson bonds on July 1, 2019, including updating the fair-value adjustment, recording reclassification adjustment, and recording the sale. Required: 1. Prepare Colah's journal entries for above transaction. 2. Fill out the following table to show the effect of the Jackson bonds on Colah's net income, other comprehensive income, and comprehensive income for 2018, 2019, and cumulatively over 2018 and 2019. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Fill out the following table to show the effect of the Jackson bonds on Colah's net income, other comprehensive income, and comprehensive income for 2018, 2019, and cumulatively over 2018 and 2019. 2019 $25,000 25,000 Net Income oci K Required 1

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