Based on your analysis in part (b) of the question, show the balance sheet presentation of the bonds and interest receivable at December 31, 2008. Assume the investments are considered long-term.

Instruction
1. Journalize the listed transactions for the years 2008 and 2011.
2.
Assume that the fair value of the bonds at December 31, 2008, was
$2,200,000. These bonds are classified as available-for-sale securities.
Prepare the adjusting entry to record these bonds at fair value.
3.
Based on your analysis in part (b) of the question, show the balance
sheet presentation of the bonds and interest receivable at December 31,
2008. Assume the investments are considered long-term.