undefined

Question 13 2 points Save Answer At Jan 1, 2018, Redmond, Inc. has a held-for-collection investment in the bonds of Osborn Company with a carrying (and fair) value of 700,000. During the year, Redmond determined that due to poor economic prospects for Osborn, Redmond will not be able to collect all contractual cash flows and the bonds have decreased in value to 600,000. It is determined that this is a permanent loss in value. During 2019, events and economic conditions have changed such that the impairment loss has decreased (due to an improvement in the debtor's credit rating). The fair value of the bonds is now 708,000. How much, if any, recovery of impairment loss will Redmond, Inc. report on its income statement for the year ending December 31, 2019? a. -0- b. 100,000 c. 108,000 d. 92,593 L A Moving to the next question prevents changes to this answer. Question 13 of 25 >