In its first year of operations, Godfrey Corporation purchased, available-for-sale debt securities costing $72,000 as a long-term

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In its first year of operations, Godfrey Corporation purchased, available-for-sale debt securities costing $72,000 as a long-term investment. At December 31, 2022, the fair value of the securities is $68,000. Show the financial statement presentation of the securities and related accounts. 

Assume the securities are noncurrent.

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Accounting Principles

ISBN: 9781119707110

14th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell

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