OurNewCO sold its Boring bond (AFS) for its fair value, $900,000) January 1, 2021. The balances from 12/31/2020 are follows: CASH REVENUE AMORT CV 885301 6/30/2020 50.000 53118.06 3,118 888,419 12/31/2020 50,000 53305.14 3,305 891,724 On 12/31/2020 the FV adjustment account had a debit balance of $8276. The face amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete the statements below. On the date of the sale, the [Select) V account will be Select] and there will be a(n) [Select] of gains or losses recorded in Select] On that date of the sale, the [Select ] account will be On 12/31/2020 the FV adjustment account had a debit balance of $8276. The face amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete the statements below. On the date of the sale, the [Select ] account will be [Select] and there will be a(n) [Select] V of gains or losses recorded in [ Select] On that date of the sale, the - [ Select] y account will be Select] V for the [Select] v On the date of the sale, the [Select ] account balance will be [ Select] V for [ Select] The income statement will be Select] V by the Select on the date of sale. On 12/31/2020 the FV adjustment account had a debit balance of $8276. The face amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete the statements below. account will be On the date of the sale, the [Select ] [ Select ] [ Select] FV adjustment account Unrealized gains/losses - NI Bond Discount of gains or losses recorded in LTCTC ect] On that date of the sale, the [ Select] account will be [ Select] for the 1 Select ] On the date of the sale, the [ Select) V account balance will be [ Select) for [ Select] The income statement will be [ Select ] by the [ Select] on the date of sale. On 12/31/2020 the FV adjustment account had a debit balance of $827 amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete statements below. account will On the date of the sale, the [Select ] [ Select] and there will be aln) [Select ] [ Select] credited debited Select] account w On that date of the sale, the [Select ] Select] for the [ Select ] [ Select] y account ba On the date of the sale, the [ Select] v for [Select ] by the The income statement will be [Select] [ Select] on the date of sale. a 31/2020 the FV adjustment account had a debit balance of $8276. The face of the Boring Bonds is $1,000,000. ut the journal entries needed to record this sale. Then complete the ents below. date of the sale, the [Select ] account will be and there will be ain) (Select ] N Select = or losses recorded in Select ] reversal increase no change - date of the sale, the [ Select ] account will be V V for the [Select] date of the sale, the [ Select] account balance will be v v for Select] V [ Select ] V ome statement will be by the t. on the date of sale. On 12/31/2020 the FV adjustment account had a debit balance of $8276. The amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete the statements below. On the date of the sale, the [Select] V account will be [ Select] and there will be a(n) [Select] of gains or losses recorded in [Select] [ Select] Other Comprehensive Income On that date of the sale, the Net Income account will be [ Select] for the [ Select ] On the date of the sale, the [Select ] account balance wil [ Select] for [ Select] The income statement will be [ Select ] by the [ Select] on the date of sale. /31/2020 the FV adjustment account had a debit balance of $8276. The face nt of the Boring Bonds is $1,000,000. out the journal entries needed to record this sale. Then complete the ents below. date of the sale, the (Select] account will be et] and there will be a(n) [Select] s or losses recorded in [ Select ] account will be date of the sale, the [ Select] N [ Select] t] Bond Investment Bonds Payable Cash date of the sale, the [Select ] account balance will be +] for [Select] ome statement will be [ Select] by the on the date of sale. On 12/31/2020 the FV adjustment account had a debit balance of $8276. The amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete the statements below. On the date of the sale, the [Select] account will be [ Select] and there will be ain) (Select] of gains or losses recorded in [Select] On that date of the sale, the [Select] account will be [Select] for the [Select ] I Select] credited debited select) account balance w [ Sclect] for[Select ] The income statement will be [Select] by the I Select] on the date of sale. On 12/31/2020 the FV adjustment account had a debit balance of $8276. amount of the Boring Bonds is $1,000,000. a Write out the journal entries needed to record this sale. Then complete th statements below. On the date of the sale, the [Select] account will be [ Select] and there will be a(n) [Select] of gains or losses recorded in [ Select ] On that date of the sale, the Select ] account will b [ Select] V for the (Select] [ Select] Face amount Amortized Cost On the date of the sale, the [ Select ] lland [ Select] for (Select] he income statement will be [ [ Select] by the [Select] on the date of sale, On 12/31/2020 the FV adjustment account had a debit balance of $8276. The face amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete the statements below. On the date of the sale, the [Select] account will be [ Select] and there will be a(n) [ Select ] of gains or losses recorded in (Select] On that date of the sale, the [Select ] account will be [ Select] for the [Select] account balance will be On the date of the sale, the (Selast] [ Select ] Select Discount Premium Cash [Select] V The income statement will be by the Select) on the date of sale. the FV adjustment account had a debit balance of $82 amount of the Boring Bonds is $1,000,000. a Write out the journal entries needed to record this sale. Then complete statements below. On the date of the sale, the [Select ] account wil [ Select] and there will be an) [Select ] of gains or losses recorded in [Select ] On that date of the sale, the [ Select ] account wil [ Select ] V for the [ Select ] On the date of the sale, the [Select] V account bala Select) for Select] [ Select ] debited credited [ Select] by the T Select] on the date of sale. The Tace t of the Boring Bonds is $1,000,000. out the journal entries needed to record this sale. Then complete the ents below. date of the sale, the [Select ] account will be Et] and there will be a(n) [Select] 5 or losses recorded in [Select ] date of the sale, the - [ Select ] account will be for the [Select] V V date of the sale, the [Select] account balance will be for [ Select] [ Select 1 $108.276 [so S3.305 58.276 come statement will be e Et] on the date of sale. amount of the Boring Bonds is $1,000,000. Write out the journal entries needed to record this sale. Then complete the statements below. On the date of the sale, the [Select] account will be [ Select] and there will be aln) [Select ] of gains or losses recorded in [ Select ] On that date of the sale, the -- [ Select ] account will be [ Select] for the [Select] v On the date of the sale, the [Select ] account balance will be [Select] v for [ Select ] V by the The income statement will be elect] 1 Select] [ Select] increased decreased not impacted [Select] for the [Select ] On the date of the sale, the [Select] account balance will be [ Select] for (Select ] The income statement will be [Select ] by the [ Select] on the date of sale. I Select) realized gain realized loss