S&L Financial buys and sells securities which it classifies as available-for-sale. On December 27, 2018, 5&L purchased Coca-Cola bonds at par for $890,000 and sold the bonds on January 3, 2019, for $897.500. At December 31, the bonds had a fair value of $884,000, and S&L has the intent and ability to hold the investment until fair value recovers, Prepare Journal entries to record (a) any unrealized gains or losses occurring in 2018 and (b) the sale of the bonds in 2019, including recognition of any unrealized gains in 2019 prior to sale and reclassification of amounts out of OCI (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction fist Journal entry worksheet 2 Record the entry for Fair value adjustment of December 31, 2018 Note: Enter debits before credits General Journal Debit Credit Dato December 31, 2018 Record entry Clear entry View general journal S&L Financial buys and sells securities which it classifies as available for sale. On December 27, 2018, S&L purchased Coca-Cola bonds at par for $890,000 and sold the bonds on January 3, 2019, for $897,500, At December 31, the bonds had a fair value of $884,000, and S&L has the intent and ability to hold the investment until fair value recovers. Prepare journal entries to record (s) any unrealized gains or losses occurring in 2018 and (b) the sale of the bonds in 2019, including recognition of any unrealized gains in 2019 prior to sale and reclassification of amounts out of OCI. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 ces Record the entry to adjust to fair value on the date of sale. Note: Enter debits before credits. General Journal Debit Credit Date January 03, 2010 View general Journal Record entry Clear entry S&L Financial buys and sells securities which it classifies as available-for-sale.On December 27, 2018, S&L purchased Coca-Cola bonds at par for $890,000 and sold the bonds on January 3, 2019, for $897,500. At December 31, the bonds had a fair value of $884,000, and S&L has the intent and ability to hold the investment until fair value recovers. Prepare journal entries to record (a) any unrealized gains or losses occurring in 2018 and (b) the sale of the bonds in 2019, including recognition of any unrealized gains in 2019 prior to sale and reclassification of amounts out of OCI. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
