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S&L Financial buys and sells securities expecting to earn profits on short - term differences in price. Assume that on December 2 7 , 2
S&L Financial buys and sells securities expecting to earn profits on shortterm differences in price. Assume that on December S&L purchased CocaCola bonds at par for $ and sold the bonds on January for $ At December the bonds had a fair value of $
Prepare journal entries to record a any unrealized gains or losses occurring in and b the sale of the bonds in Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
Journal entry worksheet
Record the unrealized gains or losses occurring at year end.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditDecember
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