Otter Creek & Co. owns vast amounts of corporate bonds. Suppose Otter Creek buys $1,300,000 of BloomCo bonds at face value on January 2, 2024. The BloomCo bonds pay interest at the annual rate of 3% on June 30 and December 31 and mature on December 31, 2043. Otter Creek intends to hold the investment until maturity. Read the requirements. Requirement 1. How would the bond investment be classified on Otter Creek's December 31, 2024, balance sheet? The BloomCo bond investment will be classified as a long-term asset as of December 31, 2024. Requirement 2a. Journalize on Otter Creek's books: Receipt of final interest payment on December 31, 2043. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Date Accounts and Explanation Debit Credit 2043 Requirements -X Dec. 31 Unrealized Holding Loss-Trading Available-for-Sale Debt Investments Cash 1. How would the bond investment be classified on Otter Creek's December 31, 2024, balance sheet? 2. Journalize the following on Otter Creek's books: a. Receipt of final interest payment on December 31, 2043. b. Disposition of the investment at maturity on December 31, 2043. Print Done Dividend Revenue Equity Investments Fair Value Adjustment-Available-for-Sale Fair Value Adjustment-Held-to-Maturity Fair Value Adjustment-Trading Gain on Disposal Held-to-Maturity Debt Investments Interest Revenue Loss on Disposal Trading Debt Investments Unrealized Holding Gain-Available-for-Sale Unrealized Holding Gain-Held-to-Maturity Choose from an Unrealized Holding Gain-Trading Unrealized Holding Loss-Available-for-Sale part remaining Unrealized Holding Loss-Held-to-Maturity Check Answer. Clear All Check