On January 1,Seahawk Company purchased $770,000 on 12% bonds at face value.At December 31,the market value of the bonds was $810,000.
Required:
Prepare the valuation entry on December 31 of the current year assuming that the bonds are classified as:
1.Trading securities
2.Available for sale securities
3.Held to maturity securities
Correct Answer:
Verified
(3)No entry.Held...View Answer
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