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On January 1, 2020, LIBBY Co purchased $1,000,000 of 8%, 20-year bonds, with interest paid annually. The market rate for similar bonds is 9%, resulting

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On January 1, 2020, LIBBY Co purchased $1,000,000 of 8%, 20-year bonds, with interest paid annually. The market rate for similar bonds is 9%, resulting in an issue price of $908,714. Question 1 2 pts Assume the management intends to treat this as an available for sale security. The fair value of the bonds at December 31, 2020 was $1.000.000. At the end of 2020 the FV adjustment account balance for this investment will be? (use whole numbers without dollar signs and enter any credit balance as a negative) Question 2 2 pts Assume the management intends to hold this investment until maturity. The fair value of the bonds at December 31, 2020 was $1,000,000. At the end of 2020 the reported balance for this investment will be? (use whole numbers without dollar signs) Question 3 2 pts Assume the management intends to treat this as a trading security. The fair value of the bonds at December 31, 2020 was $1.000.000. At the end of 2020 the FV adjustment account balance for this investment will be? (use whole numbers without dollar signs and enter any credit balance as a negative)

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