In 2014,Osgood Corporation purchased $4 million of 10-year municipal bonds at face value.On December 31,2016,the bonds had a market value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities.Osgood's December 31,2016,balance sheet and the 2016 income statement would show the following:

Question

In 2014,Osgood Corporation purchased $4 million of 10-year municipal bonds at face value.On December 31,2016,the bonds had a market value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities.Osgood's December 31,2016,balance sheet and the 2016 income statement would show the following:
In 2014,Osgood Corporation purchased $4 million of 10-year municipal bonds at face value.On December 31,2016,the bonds had a market value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities.Osgood's December 31,2016,balance sheet and the 2016 income statement would show the following:

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The Answer of In 2014,Osgood Corporation purchased $4 million of 10-year municipal bonds at face value.On December 31,2016,the bonds had a market value of $3,600,000 and Osgood reclassified the bonds from held to maturity to trading securities.Osgood's December 31,2016,balance sheet and the 2016 income statement would show the following:

In 2014,Osgood Corporation Purchased $4 Million of 10-Year Municipal Bonds