TB Problem 12-152 (Static) On March 17, 2020, Union Corporation purchased 500 bonds of AZQ as a long-term investment at $400 per bond. On December 31, 2020, and December 31, 2021, the market value of the AZQ bonds is $420 and $430, respectively, Required: 1. What is the appropriate reporting category for this investment? 2. Prepare the adjusting entry on December 31, 2020 3. Prepare the adjusting entry on December 31, 2021. 7 Complete this question by entering your answers in the tabs below. Reg Reg 2 and 3 What is the appropriate reporting category for this investment? Reporting category for the investment Req 2 and 3 > Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Prepare the adjusting entries on December 31, 2020 and December 31, 2021. (If no entry is required for a transaction/event, journal entry required" in the first account field.) View transaction list Journal entry worksheet