No adjustment has yet been made for accrued interest receivable on a bond breceivable for the year ended December $312023.$ Regular interest payments are made on February $28,$ May $31,$ August $31$ and November $30$ with interest revenue being recorded at the time of the payment. The balance of the bond receivable is $$240,000$ and the annual interest rate is $10\%.$ The balance of the interest receivable account is $$2,000$ which is unchanged from the previous year.

I. Discuss how the above should be treated in the financial statements for the year ended December $312023.$ i$.$e$.$ explanation, workings and journal entries, where applicable.