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12-10-2022
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in 2022, osgood corporation purchased $4 million worth of 10-year municipal bonds at face value. on december 31, 2024, the bonds had a fair value of $3,600,000 and osgood reclassified the bonds from held-to-maturity to trading securities. osgood's december 31, 2024, balance sheet and the 2024 income statement would show the following

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