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11. On January 1, 2020, Monsters Inc. buys some bonds of another company, then sells them on January 1, 2021. Monsters Inc. classified the debt

11. On January 1, 2020, Monsters Inc. buys some bonds of another company, then sells them on January 1, 2021. Monsters Inc. classified the debt investment as available-for-sale and reports the following information about the bond:

Item Amount
Face value $480,000
Purchase price $446,000
Amortization for 2020 $4,000
Fair value on December 31, 2020 $473,000
Sale price on January 1, 2021 $474,000

How much Gain/Loss on Sale of Investments should Monsters Inc. report for the sale on January 1, 2021? (a positive number is a gain and a negative number is a loss)

$1,000

$24,000

($6,000)

$28,000

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