Maxim Corporation acquired $800,000 of 8% bonds on July 1, 2020 for $764,000 as a long- term investment. The company had the ability and intent to hold the bonds until maturity. Interest is compounded and paid semi-annually. The current market rate was 10%. On January 2, 2021, Maxim needs to sell this bond investment due to an unforeseen pandemic that requires emergency cash to pay employees. Maxim sells the bonds for $728,500