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On January 1, 2021, Redline Inc purchased $936,000 of 10% bonds at face value. The bond market value was $983,000 on December 31. 2021 Required:

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On January 1, 2021, Redline Inc purchased $936,000 of 10% bonds at face value. The bond market value was $983,000 on December 31. 2021 Required: Prepare the appropriate journal entry on December 31, 2021, to property value the bonds assuming the bonds are classified as of no entry is required for a transaction/event select "No journal entry required in the first account field.) ignore the coupon and Interest journal entries 1. Trading securities 2. Securities available for sale, 3. Held-to-maturity securities Journal entry worksheet

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