On September 30, Franz Corporation notices a decline in the value of its investment in held-to-maturity bonds that it believes to be other than temporary. On that date, the carrying value of the bonds is $38,500 and the fair value is $22,980. Franz's evaluation of this investment reveals that expected credit losses are $10,000. Prepare the journal entry to record the impairment. 

Answer rating: 100% (QA)

Journal entry In accounting journal entry refers to the posting of the tr... View the full answer