Solved: How should the reclassification of the investment be, Accounting Basics

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How should the reclassification of the investment be

1. Western Die-Casting Company holds an investment in unsecured bonds of LGB Heating Equipment, Inc. When the investment was acquired, management's intention was to hold the bonds for resale. Now management has the positive intent and ability to hold the bonds to maturity. How should the reclassification of the investment be accounted for?

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Accounting Basics: How should the reclassification of the investment be

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