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QUESTION 5 Fister Links Products owns Microsoft bonds, considered by the company to be securities available-for-sale. The bonds were acquired at a cost of $500,000.
QUESTION 5 Fister Links Products owns 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 2019, their fair value was $610,000 and their amortized cost was $510,000. At the end of 2020, their fair value was $600,000 and their amortized cost was $520,000. (a) At what amount will the investment be reported in the December 31, 2019, balance sheet? (b) What adjusting entry is required to accomplish this objective (ignore interest)? TT T Arial 3 (12pt) T- 'S Path:p Words:0 Click Save and Submit to save and submit. Click Save All Answers to save all answers
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