Question: Please only attempt if you can solve the question with a proper explanation. Please do not copy from Chegg. As of 12/31/17, XYZ Inc. had

Please only attempt if you can solve the question with a proper explanation. Please do not copy from Chegg.

As of 12/31/17, XYZ Inc. had Available-for-Sale debt investments with a fair value of $522,000, an amortized cost of $535,000, and a debit balance in the Fair Value Adjustment minus? Available for Sale Debt Investments account of $7,500. What is the amount of gain or loss reported by XYZ related to these available-for-sale debt investments and how should it be reported?

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