Journal entries tor 2019, 2020, & 2021

On June 1,2019 , Hansen Company purchased ten $1,000 Francisco Company bonds at par and classified them as held-to-maturity. In 2020, Francisco experienced financial difficulties and on Dec 31, 2020, based on an evaluation of the investment, Hansen determined that expected credit losses are $4,000. In 2021, Francisco improved its financial condition, and, on Dec 31, 2021, Hansen believed that expected credit losses would only be $2,000. Required: Prepare the journal entries for Hansen to record the above events under U.S. GAAP. rt of Accounts ASSETS REVENUE 111 Cash 411 Sales Revenue 113 Investment in Trading Securities 431 Interest Income 114 Investment in Available-for-Sale Securities 441 Gain on Transfer of Investment 119 Allowance for Change in Fair Value of Investment 121 Accounts Receivable EXPENSES 141 Inventory 500 Cost of Goods Sold 152 Prepaid Insurance 511 Insurance Expense 181 Equipment 512 Utilities Expense 189 Accumulated Depreciation 521 Salaries Expense 191 Investment in Held-to-Maturity Debt Securities 532 Bad Debt Expense 192 Allowance for Credit Losses 540 Interest Expense 541 Depreciation Expense LIABILITIES 559 Miscellaneous Expenses 211 Accounts Payable 910 Income Tax Expense 231 Salaries Payable 912 Unrealized Holding Gain/Loss 250 Unearned Revenue 914 Loss on Impairment 261 Income Taxes Payable 915 Credit Loss Expense LIABILITIES 559 Miscellaneous Expenses 211 Accounts Payable 910 Income Tax Expense 231 Salaries Payable 912 Unrealized Holding 250 Unearned Revenue Gain/Loss 261 Income Taxes Payable 914 Loss on Impairment 915 Credit Loss Expense EQUITY 311 Common Stock 331 Retained Earnings Prepare the journal entries for Hansen to record the above events under U.S. GAAP