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On January 1, 2021, Gregorovitch Company purchased $934,000 of 10% bonds at face value. The bond market value was $982,000 on December 31, 2021. Prepare
On January 1, 2021, Gregorovitch Company purchased $934,000 of 10% bonds at face value. The bond market value was $982,000 on December 31, 2021. Prepare the appropriate journal entry on December 31, 2021, to properly value the bonds assuming the bonds are classified as: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1. Trading securities. 2. Securities available-for-sale. 3. Held-to-maturity securities. Journal entry worksheet Record the unrealized holding gain or loss for trading securities. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Journal entry worksheet
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