The company purchased the following securities during Year 1: In Year 2, the company reclassified both of

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The company purchased the following securities during Year 1:
The company purchased the following securities during Year 1:
In Year

In Year 2, the company reclassified both of these securities. Security A was reclassified as held to maturity; the fair value of security A at the time of the reclassification was $9,000. Security B was reclassified as available for sale; the fair value of security B at the time of the reclassification was $9,600. Make the journal entries necessary to record both of these reclassifications.

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Intermediate Accounting

ISBN: 978-1133957911

19th edition

Authors: Earl K. Stice, James D. Stice

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