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Prepare the journal entry to record the impairment

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Question - On September 30, Franz Corporation notices a decline in value of its investment in held-to-maturity bonds that it believes to be other than temporary. On that date, the carrying value of the bonds is $38,500 and the fair value is $22,980.

Required: Prepare the journal entry to record the impairment.

Reference no: EM132288965

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