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Question 4 (10 points) PROBLEM 4 (10 marka) The following tiu Corporation transactions are for bonds that were purchased as held for trading investments for

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Question 4 (10 points) PROBLEM 4 (10 marka) The following tiu Corporation transactions are for bonds that were purchased as held for trading investments for the year ended December 31, 2020. Jan. 1 Purchased $200,000 of RAM Corporation 3% bonds at 96(this means 96% of maturity value). Interest is received semi- annually on July 1 and January 1. The bonds mature on January 1, 2020. July 1 Received Interest on the RAM bonds. 2 Sold $50,000 of RAM bonds at 99. Dec. 31 Accrued interest on the remaining bonds 31 The fair value of the remaining bonds was 101 on this date. Instructions: Record the above transactions, including any required adjusting entries. using the fair value through profit and loss model

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