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Preparing the Investment Section Prepare the investment section of a classified balance sheet given the following account balances on December 31, 2020. Bond sinking fund$60,000Debt

Preparing the Investment Section

Prepare the investment section of a classified balance sheet given the following account balances on December 31, 2020.

Bond sinking fund$60,000Debt investments (expected to be held to maturity in 2025)27,000Land (in use)24,000Land held for speculation15,000Prepaid insurance (for January 2021 coverage paid in advance)3,000

Note:Enter investments in the order of the largest dollar amount to the smallest dollar amount.

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