Business, 06.06.2020 23:03, nikkiebartels

On February 18, 2021, Union Corporation purchased 2,400 IBM bonds as a long-term Investment at their face value for a total of $2,400,000. Union will hold the bonds Indefinitely, and may sell them if their price increases sufficiently. On December 31, 2021, and December 31, 2022, the market value of the bonds was $2,340,000 and $2.430,000, respectively. Required: 2. & 3. Prepare the adjusting entry for December 31, 2021 and 2022. (If no entry is required for a transaction/event, select "No Journal entry required" In the first account field.)

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On February 18, 2021, Union Corporation purchased 2,400 IBM bonds as a long-term Investment at their...