Question: A B D E F G I 1 2 Cincy Corporation purchased 1,500 Bengals Inc. bonds in 2018 for $300 per bond and classified the

A B D E F G I 1 2 Cincy Corporation

A B D E F G I 1 2 Cincy Corporation purchased 1,500 Bengals Inc. bonds in 2018 for $300 per bond and classified the 3 investment as available-for-sale securities. The value of the Bengals investment was $400 per bond on 4 December 31, 2019. During 2020, Cincy sold all of its Bengals investment at $500 per bond. 5 6 Required: 7 Prepare all the necessi x$ 8 (1) 2018 purchase of the bonds. 9 (2) 2019 fair value adjustment. 10 (3) 2020 bond sale. 11 12

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