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plz answer this part of the question asap. upvote for sure. Question 1 of 4 > 21.43/25 View Policies Show Attempt History Current Attempt in

plz answer this part of the question asap. upvote for sure. image text in transcribed
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Question 1 of 4 > 21.43/25 View Policies Show Attempt History Current Attempt in Progress On January 1, 2021, Kingbird Inc., a public company, purchased $680,000 of Pearl Corporation's five-year, 6% bonds for 5709757 when the market interest rate was 5%. Interest is received semi-annually on July 1 and January 1. Kingbird's year end is December 31. Kingbird intends to hold Pearl's bonds until January 1, 2026, the date the bonds mature. The bonds' fair value on December 31 2021, was $700,000 Question 1 of 4 21.43/25 Part 7 How would your answers to parts (a) through (c) change if the bonds were purchased for the purpose of trading? (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decimal places, eg. 5,276.) Date Account Titles and Explanation Debit Credit Jan. 1 To record purchase of investment.) Jul 1 To record collection of interest on bonds Dec. 31 ch 27" Partly sunny r 16 Question 1 of 4 21.43/25 E (To record purchase of investment.) Jul. 1 To record collection of interest on bonds.) Dec. 31 (To actrue interest revenue.) Dec. 31 (To record fair value adjustment.) e Textbook and Media ch O 27" Partly sunny

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