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When should fox report a gain on income statement

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Reference no: EM132670180

Problem 1: Fox Co., a public, calendar-year reporting company, bought 500 of Owl Co. 3-year, 5% bonds issued at 103, on Owl's initial bond issuance, April 1, 2019. Fox expects to hold these bonds for about 18 months. When should Fox report a gain on its income statement for these bonds?

Reference no: EM132670180

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