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2018 Jan 5 Purchased VanCan Company's $575,000 bond at face value. Delta classified the investment as available for sale. The VanCan bond pays interest at

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2018 Jan 5 Purchased VanCan Company's $575,000 bond at face value. Delta classified the investment as available for sale. The VanCan bond pays interest at the annual rate of 6% on June 30 and December 31 and matures on December 31, 2023. Management's intent is to keep the bonds for several years. Received an interest payment from VanCan. Received an interest payment from VanCan Adjusted the investment to its current market value of $568,500 1. Journalize Delta's investment transactions. Explanations are not required 2. Prepare a partial balance sheet for Delta's VanCan investment as of December 31, 2018 3. Prepare a comprehensive income statement for Delta Investments for your ended December 31, 2018. Assume net income was $340,000 30 Dec 31 31

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