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need some help On January 1, 2021, feca Ltd, purctased $170,000 of 12%. 10 -year bonds at face value (100) with the intention of selling
need some help
On January 1, 2021, feca Ltd, purctased $170,000 of 12%. 10 -year bonds at face value (100) with the intention of selling the bonds early the neat yeak, interest is received semiannually on July 1 and January 1. At December 31, 2021, which is the compary's fiscal wear eod the bonds were trading in the market at 98 (this means 98% of maturity valuel: (2) Using the fair value throwgh profit or loss model, prepare the journal entry to record the purchase of the bonds on Jamuary 1. . ALst all debit entrie before credl entriex Credit occount tilles ave outomotically indented when the omount is entered. Do not indent manuolly. If no entry is nquired, select "No Entry" for the occount tities and enter 0 for the amounts.) Frrpare any adybting entries requirod at December 31. fist all deblt entries before credit entries Crenht acoount tities ore and enter 0 for the amounte) Step by Step Solution
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