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On January 1, 2021, Hooster Company purchased $926,000 of 10% bonds at face value. The bond market value was $978,000 on December 31, 2021 Required:
On January 1, 2021, Hooster Company purchased $926,000 of 10% bonds at face value. The bond market value was $978,000 on December 31, 2021 Required: 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 fleld.) 1. Trading securities 2. Securities available-for-sale. 3. Held-to-maturity securities. View transaction list Journal entry worksheet
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