Kerry Corporation acquires the publicly traded debt of Jett Corporation on December 31, Year 1 as a temporary investment of excess cash. The securities mature in 4 years. How will the securities be recorded on Kerry's December 31, Year 1 financial statement?
a. as long-term investment in marketable equity securities
b. as current assets-marketable securities
c. as bonds payable
d. as short-term investment in marketable equity securities
e. in a reserve account for future operating cash needs
B
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