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WIE IS UITECTOR TEC Torre work you have completed so far, it 19 0.4 On February 18, 2021, Union Corporation purchased 1939 IBM bonds as

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WIE IS UITECTOR TEC Torre work you have completed so far, it 19 0.4 On February 18, 2021, Union Corporation purchased 1939 IBM bonds as a long-term investment at their face value for a total of $1339,000. Union will hold the bonds Indefinitely and may sell them if their price increases sufficiently. On December 31, 2021, and December 31, 2022, the market value of the bonds was $1105,000 and $1,156,000, respectively Required: 28 3. Prepare the adjusting entry for December 31, 2021 and 2022 of no entry is requtred for a transaction/event, select "No Journal entry required" in the first account field) points Answer is complete but not entirely correct. No Debit Credit Date Generalloumal December 31, 202 Loss on Investment unrealed, NI Fair value adjustment 1 3 51.000 3 . 61.000 (68.000/ 2 December 31, 202 Fair value adjustment Los on investment (Unrealed 188,000)

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