On March $17,2023,$ Union Corporation purchased $590$ bonds of AZQ as a long$-$term investment at $$409$ per bond. On December $31,2023,$ and December $31,2024,$ the market value of the AZQ bonds is $$438$ and $$448,$ respectively.

Required:

What is the appropriate reporting category for this investment?

Prepare the adjusting entry on December $31,2023.$

Prepare the adjusting entry on December $31,2024.$On March $17,2023$ Union Corporation purchased $590$ bonds of AZQ as a long$-$term Investment at $$409$ per bond On December $31.$

$2023,$ and December $31,2024,$ the market value of the AZQ bonds is $$438$ and $$448,$ respectively

Required:

What is the appropilate reporting category for this investment?

Prepare the adjusting entry on December $31,2023.$

Prepare the adjusting entry on December $31,2024.$

Complete this question by entering your answers in the tabs below.

Prepare the adjusting ehtries on December $31,2023$ and December $31,2024.$

Note; tf no entry s required for a sransaction$/$event$,$ select, $"$No journal entry required" in the first account field. Enter the values in

thousande of dollars

Journal entry worksheet

$12$

Record the adjusting entry for the investment on December $31,2023.$

Nate: Ertar debits befipre credits.