S L Financial Buys And Sells Securities Expecting To Earn Profits On Short Term Differences In Price On December 27 20 1 (59.5 KiB) Viewed 45 times
S L Financial Buys And Sells Securities Expecting To Earn Profits On Short Term Differences In Price On December 27 20 2 (12.97 KiB) Viewed 45 times
S&L Financial buys and sells securities expecting to earn profits on short-term differences in price. On December 27, 2021, S&L purchased Coca-Cola bonds at par for $879,000 and sold the bonds on January 3, 2022, for $885,000. At December 31, the bonds had a fair value of $875,000. Prepare journal entries to record (a) any unrealized gains or losses occurring in 2021 and (b) the sale of the bonds in 2022. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 > Record the unrealized gains or losses occurring at year end. Note: Enter debits before credits. Date General Journal December 31, 2021 Record entry Clear entry Debit Credit View general journal
Record the unrealized gains or losses occurring on the date of sale. Note: Enter debits before credits. Date General Journal Debit January 03, 2022 Credit
Record the sale of the Coca-Cola bonds in 2022. Note: Enter debits before credits. Date General Journal January 03, 2022 Debit Credit
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