Debra owned City of Long Beach bonds that were issued several years ago to pay for basic

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Debra owned City of Long Beach bonds that were issued several years ago to pay for basic government services. She received $3,800 of interest income from the bonds in the current year. Due to a change in the market interest rate, she was able to sell the bonds at a $2,100 gain. How much gross income should Debra report from these transactions?
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Financial Accounting

ISBN: 978-1259103285

5th Canadian edition

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

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