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S&L Financial buys and sells securities which is classified as available-for-sale. On December 27, 2018, S&L purchased Cola-Cola bonds par for $898,000 and sold the
S&L Financial buys and sells securities which is classified as available-for-sale. On December 27, 2018, S&L purchased Cola-Cola bonds par for $898,000 and sold the bonds on January 3, 2019 for $906,000. At December 321, the bonds had a fair value of $892,000 ans S&L has the intent ability to hold the investment until fair value recovers.
How do I prepare the journal entries
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