$3$ Banjo Co$.$ Purchases a bond they classify as Available for Sale on January $1$st$,2022.$ The original value of the bond was $$100,000$ and it was purchased for a discount. $4$ On December $31$st$,2022,$ the current fair value of the bond is $$90,000.$ and the balance in the discount account is $$20,000$

$\frac{5}{5}$

$6$ What is the proper journal entry to record the Fair Value change on December $31$st$,2022?$

Now it is March $8$th$,2023$ and Banjo Co$.$ sells the bond for $$97,000.$ Make all necessary entries to record the sale of this bond.

$14$ Account

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