On January 1, Seahawk Company purchased $770,000 on 12% bonds at face value. At December 31, the market value of the bonds increased to $810,000. Required: Prepare the valuation entry on December 31 of the current year assuming that the bonds are classified as: 1. Trading securities 2. Available-for-sale securities 3. Held-to-maturity securities

Fractional reserve banking which of the following statements about fractional reserve banking are correct? check all that apply. fractional reserve banking allows banks to create money through the lending process. fractional reserve banking does not allow banks to hold excess reserves. fractional reserve banking allows banks to create additional wealth by lending some reserves. fractional reserve banking relies on everyone not withdrawing their money at the same time.