On January 1,2024 , Hoosier Company purchased $946,000 of 10% bonds at face value. The...
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Accounting
On January 1,2024 , Hoosier Company purchased $946,000 of 10% bonds at face value. The bond market value was $988,000 on December 31, 2024. Required: Prepare the appropriate journal entry on December 31,2024 , to properly value the bonds assuming the bonds are classified as: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. 1. Trading securities. 2. Available-for-sale securities. 3. Held-to-maturity securities. Journal entry worksheet Record the unrealized holding gain or loss for trading securities. Note: Enter debits before credits. Journal entry worksheet Record the unrealized holding gain or loss for available-for-sale securities. Note: Enter debits before credits. Journal entry worksheet Record the unrealized holding gain or loss for held-to-maturity securities. Note: Enter debits before credits
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