Question: On July 1 , 2 0 2 5 , Concord Company purchased $ 3 , 8 8 0 , 0 0 0 of Duggen Company's

On July 1,2025, Concord Company purchased $3,880,000 of Duggen Company's 8% bonds, due on July 1,2032. The bonds, which pay interest semiannually on January 1 and July 1, were purchased for $3,410,000 to yield 10%. These bonds are classified as available-for sale and they have a fair value at December 31,2025, of $3,510,500, prepare the journal entry (if any) at December 31,2025, to record this transaction.

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