On February 18, 2024, Union Corporation purchased 671 IBM bonds as a long-term investment at their...
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On February 18, 2024, Union Corporation purchased 671 IBM bonds as a long-term investment at their face value for a total $671,000. Union will hold the bonds indefinitely, and may sell them if their price increases sufficiently. On December 31, 202 December 31, 2025, the market value of the bonds was $649,000 and $682,000, respectively. Required: 2. & 3. Prepare the adjusting entry for December 31, 2024 and 2025. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 2 Record the adjusting entry for December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit < Prev 5 of 13 Next > View transaction list Journal entry worksheet < 1 2 Record the adjusting entry for December 31, 2025. Note: Enter debits before credits. Date December 31, 2025 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 2 Record the adjusting entry for December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 Saved General Journal Debit Credit Record entry Clear entry View general journal > On February 18, 2024, Union Corporation purchased 671 IBM bonds as a long-term investment at their face value for a total $671,000. Union will hold the bonds indefinitely, and may sell them if their price increases sufficiently. On December 31, 202 December 31, 2025, the market value of the bonds was $649,000 and $682,000, respectively. Required: 2. & 3. Prepare the adjusting entry for December 31, 2024 and 2025. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 2 Record the adjusting entry for December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit < Prev 5 of 13 Next > View transaction list Journal entry worksheet < 1 2 Record the adjusting entry for December 31, 2025. Note: Enter debits before credits. Date December 31, 2025 General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 2 Record the adjusting entry for December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 Saved General Journal Debit Credit Record entry Clear entry View general journal >
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