Outer Mile & Co. owns vast amounts of corporate bonds. Suppose Outer Mile buys $800,000 of CoteCorp bonds at face value on January 2, 2024. The CoteCorp bonds pay interest at the annual rate of 3% on June 30 and December 31 and mature on December 31, 2033. Outer Mile intends to hold the investment until maturity. Read the requirements. Requirement 1. How would the bond investment be classified on Outer Mile's December 31, 2024, balance sheet? The CoteCorp bond investment will be classified as a long-term asset as of December 31, 2024. Requirement 2a. Journalize on Outer Mile's books: Receipt of final interest payment on December 31, 2033. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2033 Dec. 31 Cash Interest Revenue Disposed of bond at maturity