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Prepare the journal entry to record the recognition

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Reference no: EM131116159

1. Entries for Available-for-Sale Securities assume the same information as in E17-3 except that the securities are classified as available-for-sale. The fair value of the bonds at December 31 of each yearend is as follows.

2009 $534,200 2012 $517,000
2010 $515,000 2013 $500,000
2011 $513,000

(a) Prepare the journal entry at the date of the bond purchase.

(b) Prepare the journal entries to record the interest received and recognition of fair value for 2009.

(c) Prepare the journal entry to record the recognition of fair value for 2010. 

Reference no: EM131116159

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