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Question 2 Refer to the given information in question #1 above. Assume that HUC chooses...

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Accounting

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Question 2 Refer to the given information in question #1 above. Assume that HUC chooses to apply the FVOCI method in accounting for these bonds. REQUIRED 1. Prepare journal entries for the following dates: (a) January 1, 2021; (b) December 31, 2021; and (c) December 31, 2022. 2. As of December 31, 2022, what should be the balance of the FVOCI Bond Investment account and the balance of the Accumulated Other Comprehensive Income (AOCI) account? 3. Assume that on January 1, 2023, HUC sells the bonds for $309,700. Prepare the applicable journal entry for the sale. Question 2 Refer to the given information in question #1 above. Assume that HUC chooses to apply the FVOCI method in accounting for these bonds. REQUIRED 1. Prepare journal entries for the following dates: (a) January 1, 2021; (b) December 31, 2021; and (c) December 31, 2022. 2. As of December 31, 2022, what should be the balance of the FVOCI Bond Investment account and the balance of the Accumulated Other Comprehensive Income (AOCI) account? 3. Assume that on January 1, 2023, HUC sells the bonds for $309,700. Prepare the applicable journal entry for the sale

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