Camp Co. purchased various securities during 20X4 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities.
The following items describe various securities purchased by Camp. For each item, identify as held-to-maturity, trading, or available-for-sale.
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Item
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Category
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Debt securities bought and held for the purpose of selling in the near term.
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U.S. Treasury bonds that Camp has both the positive intent and the ability to hold to maturity.
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$3 million debt security bought and held for the purpose of selling in three years to finance payment of Camp's $2 million long-term note payable when it matures.
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Convertible preferred stock that Camp does not intend to sell in the near term.
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