Hokulea Co. purchased a \$100,000 par value, 10% bond on January 1, 2015. The maturity date of the bond is January 1, 2018. The company purchased the bond at \$105,154 (effective interest rate is 8%). Interest will be paid on July 1 and January 1 every year. The company had the intention and the ability to hold the investment to the maturity date. The company used the effective interest rate method to amortize any discount or premium.
(I): On July 1, 2015, what was the recognized interest revenue (in \$ to the second decimal place)?
(II): On July 1, 2015, what was the amount of bond investment on the balance sheet (in \$ to the second decimal place)?