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On January 2, 2021, Hamad Co. purchased $40,000 of bonds at par that are classified as trading. At December 31, of the same year the

On January 2, 2021, Hamad Co. purchased $40,000 of bonds at par that are classified as trading. At December 31, of the same year the fair value of the bonds was $57,400. Prepare the journal entry to record the fair value adjustment.

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