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thumbs up incoming! Rice purchased 1,000 bonds of 0 Connell Inc in 2023 for $880 per bond. The value of these holdings was $8e0 per
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Rice purchased 1,000 bonds of 0 Connell Inc in 2023 for $880 per bond. The value of these holdings was \$8e0 per borid on December 31,2023 , and $610 per bond on December 31, 2024. During 2025, Rice sold all of its 0 Connell bonds at $750 per bond. Ignoring interest revenue and amortization of any premium or discount from these bonds, what amount of cain or loss would Rice report on its income statement in 2023 . 2024, and 2025 related to these bonds if the bonds are classitied as Held-10-maturity [6 points] Available-for-bale [6 points) Trading socurities 16 points] Input a gain as a positive number and a loss as a negative number. Prepare the Docember 31,2024 adjusting entry assuming the investment is classified as available for sale. [4 points] Step by Step Solution
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