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3 Banjo Co. Purchases a bond they classify as Available for Sale on January 1st,2022....

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Accounting

3 Banjo Co. Purchases a bond they classify as Available for Sale on January 1st,2022. The original value of the bond was $100,000 and it was purchased for a discount. 4 On December 31st,2022, the current fair value of the bond is $90,000. and the balance in the discount account is $20,000
55
6 What is the proper journal entry to record the Fair Value change on December 31st,2022?
Now it is March 8th,2023 and Banjo Co. sells the bond for $97,000. Make all necessary entries to record the sale of this bond.
14 Account
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