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Henry Inc. purchased $8,000 of Container Corporation's 5% bonds at par. The purchase was made on January 1 and the investment was classified as a

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Henry Inc. purchased $8,000 of Container Corporation's 5% bonds at par. The purchase was made on January 1 and the investment was classified as a its holdings of Container Corporation bonds july 2 , for $7,680. a. Record the sale of the debt investment. b. Adjust the Fair Value Adjustment account on December 31, the company's year-end

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