Business, 17.03.2020 21:56 HecptyAura

Flint Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of $76,700. Flint determined that due to poor economic prospects for Schuyler, the bonds have decreased in value to $65,000. It is determined that this loss in value is uncollectible. Prepare the journal entry, if any, to record the reduction in value.

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Flint Co. has a held-to-maturity investment in the bonds of Schuyler Corp. with a carrying value of...