Determining the carrying amount of investment

Reference no: EM13259582

On April 1, 2001, Saxe, Inc. purchased $200,000 face value, 9% US Treasury Notes for $198,500, including accrued interest of $4,500. The notes mature July 1, 2002, and pay interest semiannually on January 1 and July 1. Saxe uses the straight-line method of amortization and intends to hold the notes to maturity. In its October 31, 2001 balance sheet, the carrying amount of this investment should be

Reference no: EM13259582

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