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The following information relates to the Houston Company for investments they purchased in 2017. Use this information for the remaining quiz questions: Debt Investments
The following information relates to the Houston Company for investments they purchased in 2017. Use this information for the remaining quiz questions: Debt Investments Classification Cost or Fair Value Interest Income Sales Price Amortized Cost at end if 2017 in 2017 in 2018 Trading $15,000 $14,000 $750 $14,500 Available-for-Sale $18,000 $15,000 $1,000 $16,000 Held-to-Maturity $24,000 $25,500 $950 For the Houston Company, what amount will appear on the income statement in 2017? Select one: a. ($2,500) b. $2,700 c. $3,000 d. $1,700 e. ($300)
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