Question: 3 . On January 1 , 2 0 2 4 , Hoosier Company purchased $ 9 2 8 , 0 0 0 of 1 0

3. On January 1,2024, Hoosier Company purchased $928,000 of 10% bonds at face value. The bond market value was $979,000 on December 31,2024.Required:Prepare the appropriate journal entry on December 31,2024, to properly value the bonds assuming the bonds are classified as:a) Trading securitiesb) Available-for-salec) Held-to-Maturity

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