On september 20 20x1 ott purchased bonds issued by

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On September 20, 20X1, OTT purchased bonds issued by Buy-A-Lot Company with an amortized cost of $100 and a fair value of $88 as of December 31, 20X1. In December, S&P upgraded the credit rating of Buy-A-Lot Company from BBB to BBB+. Management has asserted it does not intend to sell this investment in the future.

Reference no: EM13485446

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