On January 1, 2020, Jupiter Corporation purchased $230,000 of 8% bonds at fair value (par value). On December 31, 2020, the bond market value of these bonds was $250,000.

1 2 On January 1, 2020, Jupiter Corporation purchased $230,000 of 8% bonds at fair value (par value). On 3 December 31, 2020, the bond market value of these bonds was $250,000. 4 5 Required: 6 Prepare the appropriate journal entry(ies) on December 31, 2020 to properly value the bonds 7 assuming the bonds are classified as: 8 (1) Trading securities 9 (2) Available-for-sale securities 10 (3) Held-to-maturity securities 11 12 (Note: You will prepare a separate journal entry for each classification) 13 14