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A company purchased $200,000 of 9%,4-year bonds on January 1,2024, for $200,000. As of December...

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Accounting

A company purchased $200,000 of 9%,4-year bonds on January 1,2024, for $200,000. As of December 31,2024, the fair value of the bonds has decreased to $180,000. Assuming the investment is classified as trading securities, what amount would the company report for its investment in bonds on December 31,2024?
Group of answer choices
$218,000
$200,000
None of these answer choices are correct.
$180,000

Answer & Explanation Solved by verified expert
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