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E17-4B (Entries for Available-for-Sale Securities) Assume the same information as in E17-3B 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. 2014 $430,000 2017 $450,

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E17-4B (Entries for Available-for-Sale Securities) Assume the same information as in E17-3B 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.;2014 $430,000 2017 $450,000;2015 425,000 2018 470,000;2016 420,000;Instructions;(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 2014.;(c) Prepare the journal entry to record the recognition of fair value for 2015.

 

Paper#78464 | Written in 18-Jul-2015

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