Henry Inc. purchased $5,000 of Container Corporation’s 5% bonds at par. The purchase is made on January 1, 2020, and the investment is classified as a commercial security. As of June 30, 2020, Henry Inc. received semiannual payments interest of $125, and the fair value of the bonds was $4,800. Prepare Henry’s journal entries for (a) the purchase of the

Sep 8, 2023

Henry Inc. purchased $5,000 of Container Corporation’s 5% bonds at par. The purchase is made on January 1, 2020, and the investment is classified as a commercial security. As of June 30, 2020, Henry Inc. received semiannual payments interest of $125, and the fair value of the bonds was $4,800. 

Prepare Henry’s journal entries for

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Henry Inc. purchased $5,000 of Container Corporation’s 5% bonds at par. The purchase is made on January 1, 2020, and the investment is classified as a commercial security. As of June 30, 2020, Henry Inc. received semiannual payments interest of $125, and the fair value of the bonds was $4,800. Prepare Henry’s journal entries for (a) the purchase of the
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(a) the purchase of the investment, 

(b) the interest received, and (c) the fair value adjustment.

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