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On January 1,2024 , Hoosier Company purchased $944,000 of 10% bonds at face value. The bond market value was $987,000 on December 31, 2024. Required:
On January 1,2024 , Hoosier Company purchased $944,000 of 10% bonds at face value. The bond market value was $987,000 on December 31, 2024. Required: Prepare the appropriate journal entry on December 31,2024 , to properly value the bonds assuming the bonds are classified as: Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account fleld. 1. Trading securities. 2. Avallable-for-sale securities. 3. Held-to-maturity securities. Journal entry worksheet Record the unrealized holding gain or loss for trading securities. Note: Enter debits before credits
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