Question: Question 2 (Total 20 marks) Part A (10 marks) Far East Limited invested in three different SPPI debt securities in its portfolios in December 2020.

Question 2 (Total 20 marks) Part A (10 marks) Far East

Question 2 (Total 20 marks) Part A (10 marks) Far East Limited invested in three different SPPI debt securities in its portfolios in December 2020. The purposes of holding securities are held for collecting contractual cash flows and for sale from time to time. The year-end cost and fair values for its portfolio were as follows: Year 2020 Year 2021 Year 2022 Cost $394,500 406,400 454,800 Fair Value $389,900 412,600 472,000 Required: Beginning with Year 2020, prepare the appropriate journal entry to record each year-end market adjustment for these financial instruments from Year 2020 to Year 2022

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