Question: On January 2 , 2 0 2 3 , Logan Company purchased $ 5 , 0 0 0 face value bonds at face value. At

On January

2, 2023,

Logan Company purchased $

5, 000

face value bonds at face value. At the time of purchase, Logan Company purchased the bonds to hold in its trading portfolio. The bonds had a stated and market interest rate of

10 %

payable semi

-

annually on July

1^{s t}

and January

1^{s t} .

The bonds had a value of $

5, 200

at December

31, 2023 .

The bonds were sold on January

2, 2024

for $

5, 150 .

What is the Gain

(

Loss

)

reported on the

2024

income statement?

On January 2,2023, Logan Company purchased $5,000 face value bonds at

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