Business, 29.07.2020 01:01, SoccerEden7274

Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds are classified as available-for-sale. 12/31/17 12/31/18 12/31/19
Amortized cost $461,100 $550,200 $604,300
Fair value $466,500 $539,700 $604,300
(a) Indicate whether the bonds were purchased at a discount or at a premium.
Presented below is information taken from a bond i DiscountPremium
(b) Prepare the adjusting entry to record the bonds at fair value at December 31, 2017. The Fair Value Adjustment account has a debit balance of $1,000 prior to adjustment.
(c) Prepare the adjusting entry to record the bonds at fair value at December 31, 2018.

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Presented below is information taken from a bond investment amortization schedule with related fair...