Mile Down & Co$.$ owns vast amounts of corporate bonds. Suppose Mile Down buys $$600,000$ of MesoCorp bonds at face value on January $2,2024.$ The MesoCorp

bonds pay interest at the annual rate of $6\%$ on June $30$ and December $31$ and mature on December $31,2038.$ Mile Down intends to hold the investment until maturity.

Read the requirements.

Requirement $1.$ How would the bond investment be classified on Mile Down's December $31,2024,$ balance sheet?

The MesoCorp bond investment will be classified as a

as of December $31,2024.$