Debt Investments 1,200 Interest Revenue 20 Cash 1,200 Debt Investments 1,050 Gain on Sale of Debt Investments 150 3- Multiple Choice Question 117
At the end of its first year, the trading securities portfolio consisted of the following common stocks.
Cost Fair Value Atrium Corporation $ 46,400 $ 50,000 Barnes Inc. 60,000 55,800 Cantor Corporation 80,000 76,000 $ 186,400 $ 181,800
In the following year, the Barnes common stock is sold for cash proceeds of $ 56,000. The gain or loss to be recognized on the sale is a
loss of $ 4,000. gain of $ 1,200. gain of $ 200. loss of $ 4,200. 4-