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Walla Walla Ltd. purchased $1.086 million of 10-year, 4% bonds on July 1, 2021, at 108.9 (this means 108.9% of face value). Interest is received

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Walla Walla Ltd. purchased $1.086 million of 10-year, 4% bonds on July 1, 2021, at 108.9 (this means 108.9% of face value). Interest is received semi-annually on January 1 and July 1. The bonds were trading at 107.4 at December 31, 2021. Walla Walla intends to trade the bonds in the near future and is using the fair value through profit or loss model. (a) Your answer is partially correct Record the purchase of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit July 1 Cash List of Accounts Assistance Used Bonds Payable Cash Dividend Income Dividends Receivable Income from Associates nterest Expense Interest Income Interest Payable Interest Receivable Investment in Associates Long-Term Investments Loss on Bond Redemption Long-Term Investments Loss on Bond Redemption No Entry Realized Gain on Long-Term Investments Realized Loss on Investment in Associates Realized Gain on Trading Investments Realized Loss on Trading Investments Revenue from Investment in Associates Trading Investments Unrealized Gain on Long-Term Investments Unrealized Loss on Long-Term Investments Unrealized Gain on Trading Investments Unrealized Loss on Trading Investments

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