On March 1, 2016, Navy Corporation used excess cash to purchase U.S. Treasury bonds for $102,000 plus accrued interest. The bonds were purchased at face value. The appropriate interest rate is 6%. Interest on these bonds is payable on January 1 and July 1 of each year. Navys investment is accounted for as held to maturity. The fair value of the Treasury bonds is $103,000 at year-end. 1.Record the purchase of U.S Treasury bonds for cash and accured interest. 2. Record the cash received for interest revenue and receivable. 3.Record the entry for interest received.