Question: n One ( i ) On January 1 2 , 2 0 2 4 , Jefferson Corporation purchased bonds of Rose Corporation for $ 5

n One (i)
On January 12,2024, Jefferson Corporation purchased bonds of Rose Corporation for $55 million at par and classified the securities as available-for-sale. On December 31,2024, these bonds were valued at $50 million. Nine months later, on October 3,2025, Jefferson Corporation sold these bonds for $70 million.
As part of the multistep approach to record the 2025 transaction, Jefferson Corporation should next take the second step of reversing total accumulated unrealized holding gains of:
Multiple Choice
00:13:43
$20 million.
$5 million.
$15 million.
$25 million.
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n One ( i ) On January 1 2 , 2 0 2 4 , Jefferson

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