On February 1, 2018. Lee Co. decides to invest excess cash of 518,800 by purchasing a Hart, Inc. bond at face value. At year-end, December 31, 2018, the fair value of the Hart bond was $21,500. The investment is categorized as a trading debt investment Read the requirements. Requirement 1. Joumalize the transactions for Lee's investment in Hart, Inc. for 2018 Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Begin by journalizing Lee's investmen 0 Requirements Date Feb 1 1. Journalize the transactions for Lee's investment in Hart, Inc. for 2018 1. Jou 2. In what category and at what value would Lee report the asset on the December 31, 2018, balance sheet? In what account would the market price change in Hart's bond be reportedif at all? 3. What was the net effect of the investment on Lee's not income for the year ended December 31, 2018? Journalize the adjustment required Date Choose from any list or enter any number in the input neids and then continue to the next question On February 1, 2018, Lee Co. decides to invest excess cash of 518,800 by purchasing a Hart, Inc. bond at face value. At year-end, December 31, 2018, the fair value of the Hart bond was $21,500. The investment is categorized as a trading debt investment Read the requirements. Requirement 1. Journalize the transactions for Lee's investment in Hart, Inc. for 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank) Begin by journalizing Lee's investment in the Hart, Inc., bond. Date Accounts and Explanation Debit Credit Feb. 1 Debit Journalize the adjustment, if required, at year-end, December 31, 2016. Hart's market price was $21,600 per share Date Accounts and Explanation Credit Dec. 31 On February 1, 2018, Lee Co. decides to invest excess cash of $18,800 by purchasing a Hart, Inc, bond at face value. At year-end, December 31, 2018, the fair value of the Hart bond was $21,500. The investment is categorized as a trading debt investment Read the requirements. Journalize the adjustment, if required, at year-end, December 31, 2018. Hart's market price was $21,500 per share. Date Accounts and Explanation Debit Credit Dec. 31 Requirement 2. In what category and at what value would Lee report the asset on the December 31, 2018, balance sheet? In what account would the market price change in Hart's bond be reported, if at all? . classified as a on the balance sheet as of December 31, 2018 Lee would report the asset at $ The market price change would On February 1, 2018, Lee Co. decides to invest excess cash of $18,800 by purchasing a Hart, Inc. bond at face value. Al year-end, December 31, 2018, the fair value of the Hart bond was $21,500. The investment is categorized as a trading debt investment Read the requirements. Requirement 2. In what category and at what value would Loo report the asset on the December 31, 2018, balance sheet? In what account would the market price change in Hart's bond be reported, if at all? classified as a Lee would report the asset at $ The market price change would on the balance sheet as of December 31, 2018 Requirement 3. What was the net effect of the investment on Lee's net income for the year ended December 31, 2018? (Enter "0" as the amount of net income has not changed.) Leo's net income for the year ended December 31, 2018, has the amount by which net income has changed is s
