CPA-00275On July 2, Year 1, Wynn, Inc., purchased as an available-for-sale security a USD 1,000,000 face value Kean Co. 8% bond for USD 910,000 plus accrued interest to yield 10%. The bonds mature on January 1, Year 7, and pay interest annually on January 1. On December 31, Year 1, the bonds had a market value of USD 945,000. On February 13, Year 2, Wynn sold the bonds for USD 920,000. In its December 31, Year 1, balance sheet, what amount should Wynn report for available-for-sale investments in debt securities?
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