Question: please answer if ur sure is correct i think what i put is wrong also pls show steps thank you Henry inc, purchasod 55,000 of
Henry inc, purchasod 55,000 of Container Corporations 5% bonds at par. The purchase was made onfanuary 1 , and the iovestment was clasified as a trading security, Onjune 30 Henry inc, received semiannual interest of 5125 . On that date, the bond was adjusted to its fair value of 34,800 , Then, Henry inc sold its holdings of container Corporation bonds on July 2 for 34.800 a. Hesord the sale of the debt investment. 5. Adjust the Fair Valuo Adjustment account on December 31, the company's year end
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