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Brief Exercise 12-7 (Static) Available-for-sale securities [LO12-4] For several years Fister Links Products has held Microsoft bonds, considered by the company to be securities available-for-sale.
Brief Exercise 12-7 (Static) Available-for-sale securities [LO12-4] For several years Fister Links Products has held Microsoft bonds, considered by the company to be securities available-for-sale. The bonds were acquired at a cost of $500,000. At the end of 2021, their fair value was $610,000 and their amortized cost was $510,000 At the end of 2022, their fair value was $600,000 and their amortized cost was $520,000 At what amount will the investment be reported in the December 31, 2022, balance sheet? What adjusting entry is required to accomplish this objective (ignore interest)? Complete this question by entering your answers in the tabs below. Balance Sheet General Journal At what amount will the investment be reported in the December 31, 2022, balance sheet? Investment Balance Shout General Journal >
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