The City of Sycamore has investments in bonds.These bonds have an amortized cost of $1,996,000 and a market value of $2,002,000.The market value is quoted and available in the financial press.The original cost of the bonds was $1,992,000.The par value at maturity will be $2,000,000.The amount at which the investments would be reported is:
A) $2,002,000
B) $2,000,000
C) $1,996,000
D) $1,992,000
Correct Answer:
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