Gretta Company holds a debt investment at amortized cost of $ 8,500. At December 31, 2014, the

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Gretta Company holds a debt investment at amortized cost of $ 8,500. At December 31, 2014, the fair value of the investment is $ 8,000 and the present value of the future cash flows from the debt investment is $ 8,100. Assume Gretta determines it has an impairment loss. What is the amount of the impairment? Where does Gretta report the impairment loss?
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Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

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