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Statement of Financial Accounting Standards No. 130 - page 57 / 57

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    Interest income (to earnings)                                 69,078

To record interest income on the  bond,

 amortize the premium, and record cash received

Unrealized  holding loss (to OCI)                  28,078

    Investment in bonds                                           28,078

To adjust carrying amount of bond to fair value

Accumulated OCI                                    28,078

    Unrealized holding loss                                       28,078

To close nominal account to real account

 at year-end

Cash                                              922,000

Loss on sale of securities (to earnings)          129,823

    Investment in bonds                                          922,000

    Reclassification adjustment (to OCI)                         129,823

To record sale of bond

Reclassification adjustment                       129,823

    Accumulated OCI                                              129,823

Retained earnings                                  60,745

Interest income                                    69,078

    Loss on sale of securities                                   129,823

To close nominal accounts to real accounts

 at year-end

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