Your company purchased the following trading investment bonds at the beginning of 2019. Bond C was...
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Your company purchased the following trading investment bonds at the beginning of 2019. Bond C was sold in August of 2020 for $30,000 Bonds A B C Purchase Price $166,000 $25,000 $31,000 a) Record Purchase b) Record Fair Value Adj 12/31/19 c) Record Sale of Bond C August 2020 d) Record fair value adjustment on 12/31/2020 Fair Value 12/31/19 $170,000 $26,000 $28,000 Fair Value 12/31/20 $165,000 $24,000 Your company purchased the following trading investment bonds at the beginning of 2019. Bond C was sold in August of 2020 for $30,000 Bonds A B C Purchase Price $166,000 $25,000 $31,000 a) Record Purchase b) Record Fair Value Adj 12/31/19 c) Record Sale of Bond C August 2020 d) Record fair value adjustment on 12/31/2020 Fair Value 12/31/19 $170,000 $26,000 $28,000 Fair Value 12/31/20 $165,000 $24,000
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