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At what amount will the investment be reported in December

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Question - For several years Fister Links Products has held Microsoft bonds, considered by the company to be securities available-for-sale. The bonds were acquired at a cost of $660,000. At the end of 2021, their fair value was $802,000 and their amortized cost was $670,000. At the end of 2022, their fair value was $800,000 and their amortized cost was $680,000.

At what amount will the investment be reported in the December 31, 2022, balance sheet? What adjusting entry is required to accomplish this objective (ignore interest)?

Reference no: EM132568339

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