Can someone help witb requirement two (thats all i need help with)

or answers toe SHORT ANSWER. Write the word or phrase that be place 29 Olan January 1, 2021, Hoosier Company purchased $924,000 of 10% bonds at face 26). value. As a result of changing market conditions, the fair value of the bonds at Required 1: Prepare the appropriate journal entry on December 31, 2021, to properly value the bonds assuming the bonds are classified as: (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) 1. Trading securities. 2. Securities available-for-sale. 3. Held-to-maturity securities. No Transaction General Journal Debit Credit Required 2: Suppose Moody's bond rating agency downgraded the risk rating of the bonds motivating Hoosier Company to sell the investment on January 2, 2022, for $970,000. Prepare the journal entry to record the sale assuming the bonds are classified as: 1. Trading securities. bebit Credit Lost on Investment (NI) 7,000 A Fair volve and Cush Fair volue adj. Preniin on 2. Securities available-for-sale. Debit Bdsh Credit