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Nautical & Co. owns vast amounts of corporate bonds. Suppose Nautical buys $800,000 of HoutenCorp bonds at face va 2038. Nautical intends to hold the investment until maturity Read the requirements. Requirement 1. How would the bond investment be classified on Nautical's December 31, 2024, balance sheet? The HoutenCorp bond investment will be classified as a long-term asset as of December 31, 2024. Requirement 2a. Journalize on Nautical's books: Receipt of final interest payment on December 31, 2038. (Record debits Date Accounts and Explanation Debit Credit 2038 Dec. 31 Held-to-Maturity Debt Investments Cash 800,000 800,000 Purchased investment in bonds. Requirement 2b. Journalize on Nautical's books: Disposition of the investment at maturity on December 31, 2038. (Record Date Accounts and Explanation Debit Credit 2038 Dec 31 Cash 14,000 Interest Revenue 14,000 Received cash interest 0.000 of HoutenCorp bonds at face value on January 2, 2024. The HoutenCorp bonds pay interest at the annual rate of 7% on June 30 and December 31 and mature an December 31 mber 31, 2024, balance sheet? December 31, 2024 mton December 31, 2038. (Record debits first, then credits Select the explanation on the last line of the journal entry table.) Debit Credit B00,000 800,000 at maturity on December 31, 2038. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Debit Credit 14.000 14.000