S&L Financial buys and sells securities expecting to earn profits on short-term differences in price....
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Accounting
S&L Financial buys and sells securities expecting to earn profits on shortterm differences in price. Assume that on December S&L purchased CocaCola bonds at par for $ and sold the bonds on January for $ At December the bonds had a fair value of $
Prepare journal entries to record a any unrealized gains or losses occurring in and b the sale of the bonds in Note: If no entry is required for a transactionevent select No journal entry required" in the first account field.
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