T has the following data regarding an available for sale debt security;

year 1 purchase price. 12,000 dec 31, year 1 fmv. 13,200 sold March 15th, year 2. 16,000

1.what is the carrying value of the instrument on the balance sheet as of jan 1, year 2?

2. what is the amount of the debit entry to oci when instrument is solid in year 2?

3. what is the amount of recognized gain on the income statement when the instrument is solid in year 2?

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