Question: can you help me with this question i have attached the information please and thank you Instructions On December 31, 2018, Leslie Company held an

can you help me with this question i have attached the information please and thank you

can you help me with this question i have attached the informationplease and thank you Instructions On December 31, 2018, Leslie Company heldan investment in bonds of Kaufmann Company which it categorized as beingheld to maturity. At that time, the 11%, $100,000 face value bonds

Instructions On December 31, 2018, Leslie Company held an investment in bonds of Kaufmann Company which it categorized as being held to maturity. At that time, the 11%, $100,000 face value bonds had a carrying value of $106, 144.54 and were being amortized using the effective interest method based on a market rate of 10%. Interest on these bonds is paid annually each December 31. On December 31, 2019, after recording the interest earned, Leslie decided to reclassify the Kaufmann bonds to its available-for-sale category in anticipation of a major restructuring. At that time, the ending quoted market price for the bonds was $102,000. Required: Prepare the journal entries on December 31, 2019, to record the interest earned and the reclassification.X hart of Accounts CHART OF ACCOUNTS Leslie Company General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 114 Investment in Available-for-Sale Securities 431 Interest Income 119 Allowance for Change in Fair Value of Investment 121 Accounts Receivable EXPENSES 141 Inventory 500 Cost of Goods Sold 152 Prepaid Insurance 511 Insurance Expense 181 Equipment 512 Utilities Expense 189 Accumulated Depreciation 521 Salaries Expense 191 Investment in Held-to-Maturity Debt Securities 532 Bad Debt Expense 540 Interest Expense LIABILITIES 541 Depreciation ExpenseX hart of Accounts 121 ACCOUNTS Receivable LAI LITJLY 141 Inventory 500 Cost of Goods Sold 152 Prepaid Insurance 511 Insurance Expense 181 Equipment 512 Utilities Expense 189 Accumulated Depreciation 521 Salaries Expense 191 Investment in Held-to-Maturity Debt Securities 532 Bad Debt Expense 540 Interest Expense LIABILITIES 541 Depreciation Expense 211 Accounts Payable 559 Miscellaneous Expenses 231 Salaries Payable 910 Income Tax Expense 250 Unearned Revenue 912 Unrealized Holding Gain/Loss: Available-for-Sale Securities 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained EarningsGeneral Journal Prepare the journal entries on December 31, 2019, to record the interest earned and the reclassification. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT N

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