When a long-term bond investment is sold, a gain will be recorded when amortized cost of the bond is less than the cash received.

Name: When a long-term bond investment is sold, a gain will be recorded when amortized cost of the bond is less than the cash received.
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A gain is recorded on the sale of a long-term bond investment when the cash received from the sale exceeds the bond's amortized cost, as this indicates the investor sold the bond for more than its carrying value on the books.

When a Long-Term Bond Investment Is Sold, a Gain Will