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Gamma Corporation buvs and sells debt securities which it classifies as available-for-sale securities.The companv's fiscal vear ends on December 31. On December 27.2021.Gamma purchased Eastern
Gamma Corporation buvs and sells debt securities which it classifies as available-for-sale securities.The companv's fiscal vear ends on December 31. On December 27.2021.Gamma purchased Eastern
Communications bonds at par for $520,000. At December 31, the bonds had a fair value of 574,000. On January 3,2022, the bonds were sold for $607,000. The amount included in 2022 net income as a
result of this investment would be:
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Financial Accounting An Introduction
Authors: Jacqui Kew, Alex Watson
4th Edition
0199046484, 978-0199046485
