Advance 8 Co owns vast amounts of corporate bonds Suppose Advance buys $1,000.000 of CoteCorp bonds at face value on January 2.2024 The CoteCorp bonds pay interest at the annual rate of 8% on June 30 and Decenaber 31 and mature on Docember 31,2028 . Advance intends to hold the investment until maturity Read the repviementsts Requirement 1. How would the bond investmient be dassilied on Advance's Docember 31, 2024, balance sheet? The CotoCorp bond investenent wal be dasslied as a as of December 312024 Requirements current assed current liabily 1. How woold the bond investment be classifed on Adwancis Docember 31 . 2024 bulance shet? 2. Joumalizo the following on Advance's books a. Recelpt of final interest payment on December 31, 2028 Iong lerm liabity b. Disposition of the imestment at maturty on December 31, 2028