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On 5/1/18, Weezer Incorporated purchased bonds as an investment for $80,000. The bonds have a stated interest rate of 6% with interest paid annually every

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On 5/1/18, Weezer Incorporated purchased bonds as an investment for $80,000. The bonds have a stated interest rate of 6% with interest paid annually every April 30. The bonds mature on 4/30/2023, at which point Weezer would receive $80,000 back from its initial investment. Weezer Incorporated designates the investment as an 'Available-for-sale' Investment. As of 12/31/18, the market value of the investment has decreased to be $79,500. Weezer Incorporated sells its investment on 5/1/19 for $78,000 What journal entries should Weezer Inc. record for its investment on 5/1/18, 12/31/18, 4/30/19, and 5/1/19? Remember to include the financial statement effects in parentheses for each entry. All journal entry lines may not be necessary 5/1/18 12/31/18 4/30/19 5/1/19

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