On February 1, 2024, West Co. decides to invest excess cash of $18,800 by purchasing a Carr, Inc. bond at face value. At year-end, December 31, 2024, the fair value of the Carr bond was $20,900. The investment is categorized as a trading debt investment. Read the requirements Requirement 1, Journalize the transactions for West's investment in Carr, Inc. for 2024. (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 West's investment in the Carr, Inc., bond Accounts and Explanation Debit Date Credit Feb. 1 stm * Requirements X 1. Journalize the transactions for West's investment in Carr, Inc. for 2024. 2. In what category and at what value would West report the asset on the December 31, 2024, balance sheet? In what account would the market price change in Carr's bond be reported, if at all? 3. What was the net effect of the investment on West's net income for the year ended December 31, 2024? Print Done