BE17.4 - Using Excel to Prepare Entries for Debt Investments PROBLEM Hendricks Corporation purchased trading investment bonds at par. Student Work Area Required: Provide input into cells shaded in yellow in this template. Use cell references to the Problem area, with mathematical formulas to calculate any amounts not given. Purchase price of bonds $ 50,000 The following data was provided by Hendricks at December 31. Prepare Hendricks' joumal entries for: (a) The purchase of the investment (b) The interest received (c) The fair value adjustment Annual interest received $ 2,000 Fair value of the bonds 47,400 A zero balance exists in the Fair Value Adjustment account before the above activity. Debit Credit (а) Debt investments 50,000 Cash 50.000

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.