On January 1, 2021, Hoosier Company purchased $916,000 of 10% bonds at face value. The bond market value was $973,000 on December 31, 2021. Required: Prepare the appropriate journal entry on December 31, 2021, to properly value the bonds assuming the bonds are classified as

On January 1, 2021, Hoosier Company purchased $916,000 of 10% bonds at face value. The bond market value was $973,000 on December 31, 2021. Required: Prepare the appropriate journal entry on December 31, 2021, to properly value the bonds assuming the bonds are classified as:(If no entry is required for a transaction/event, select “No journal entry required” in the first account field.) Trading securities. Securities available-for-sale. Held-to-maturity securities