Question

Refer to the information in E17-3 and assume that Roosevelt elected the fair value option for this held-for-collection investment.

Instructions
(a) Prepare any entries necessary at December 31, 2010, assuming the fair value of the bonds is $540,000.
(b) Prepare any entries necessary at December 31, 2011, assuming the fair value of the bonds is $525,000.



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  • CreatedJune 17, 2013
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