Question: O n January 1 , 2 0 2 0 , Vaughn Inc. had cash and common stock o f $ 6 2 , 3 1

On January 1,2020, Vaughn Inc. had cash and common stock of $62,310.At that date, the company had no other asset, liability, or equity balances. On January 2,2020,it purchased for cash $23,990of debt securities that it classified as available-for-sale. It received interest of $4,050 during the year on these securities.In addition, it has an unrealized holding gain on these securitiesof $6,210 net of tax.

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