The City of Sycamore Has Investments in Bonds

Multiple Choice

The City of Sycamore has investments in bonds. These bonds have an amortized cost of $1,997,000. At year end, the financial press reports a market value of $2,002,600 for these bonds. The original cost of the bonds was $1,993,000. The par value at maturity will be $2,000,000. The amount at which the investments would be reported is:

A) $1,997,000
B) $1,992,000
C) $2,002,600
D) $2,000,000