In Its First Year of Operations,Logic Co

Essay

In its first year of operations,Logic Co.purchased bonds of Waterford Co.with a cost of $125,000 and a year-end fair value of $123,700.Logic also purchased bonds of Jasper Co.with a cost of $25,000 and a year-end fair value of $26,100.These are classified as long-term available-for-sale securities.Prepare the journal entry to record the market value of the investments as of its December 31 year-end.