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On January 1, 2016, Edoras Company purchased $300,000 of ten-year 10% bonds of Combe Company and classified the investment as held-to-maturity. Interest is payable annually.
On January 1, 2016, Edoras Company purchased $300,000 of ten-year 10% bonds of Combe Company and classified the investment as held-to-maturity. Interest is payable annually. The effective yield on the investment is 8%. What is the balance in Edorass investment in held-to-maturity debt securities account (rounded to the nearest dollar, if necessary) at December 31, 2016 assuming that the bonds have a fair value of $335,693 on that date?
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