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Prepare the appropriate journal entry on december

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Reference no: EM132059842

Question - On Jan 1 2016 Hoosier Company purchased $930,000 of 10% bonds at face value. The bond market value was $980,000 on Dec 31 2016.

Prepare the APPROPRIATE journal entry on Dec 31, 2016 to properly value the bonds assuming the bonds are classified as

1) Trading securities.

2) Securities available for sale.

3) Held to maturity securities.

Reference no: EM132059842

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