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A company purchased 6 % , 7 - year bonds on January 1 , 2 0 2 4 , at face amount for $ 1
A company purchased year bonds on January at face amount for $ As of December the fair value of the bonds has decreased to $ In early the company sells the investment for $ Assuming the investment is classified as trading securities what is the gain or loss on the sale to be reported in the income statement in
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