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Q4: On Jan. 1, Year 4, Zinc Co. purchased 10% 5-year bonds of Nickel Corp. for $450,000 and. On Dec. 31, Year 4, the market
Q4: On Jan. 1, Year 4, Zinc Co. purchased 10% 5-year bonds of Nickel Corp. for $450,000 and. On Dec. 31, Year 4, the market value of the bonds rose to $448,000. On Dec. 31, Year 5, the market value of the bonds dropped to $455,000. On March 1, Year 6, the bonds were sold to another investor for $458,000. Journalize the transactions and events assuming the bonds were classified as (a) trading securities. (b) AFS securities. DEBIT CREDIT DEBIT CREDIT TRADING AVAILABLE-FOR-SALE
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