Travis Company has just completed its financial statements for the reporting year ended December 31, 2019. The accounts have not yet been closed. The company always uses the straight-line method for any cost allocations. Prepare any correcting and adjusting entries that should be made on December 31, 2019. Ignore income taxes.

On January 1, 2014, a long-term investment of $18,000 was made by purchasing a $20,000, 8% bond of XT Corporation (interest payable on December 31). The investment account was debited $18,000. Each year, starting on December 31, 2014, the company has recognized investment revenue on these bonds of $1,600. The bonds mature ten years from the date of purchase.