1. The Janjua Company had the following account balances at 1/1/22 : On that date, the Accumulated OCl account was at its proper balance. There were no sales or purchases of Common Stock or Investments during 2016. Prior to any adjusting journal entries related to the investments, 2022 Net Income was $7,800. No other transactions affecting Retained Earnings occurred. Fair Value of the Investments at 12/31/2022 was $34,700. (a) Required for Part I: (b) Prepare the 12/31/22 journal entry to adjust the investment to fair value. (c) Prepare the complete 12/31/22 Equity section of the balance sheet. The following information relates to the HTM debt securities investments of Kiran Company during 2022: a) January 1: The company purchased 8% bonds of Tempe Co. having a par value of $240,000 at 99 plus accrued interest. Interest is payable May 1 and November 1 . Maturity date is 11/1/23. b) May 1: Semiannual interest is received and amortization is updated. c) July 1: 10% bonds of Flagstoff were purchased. The bonds had a par value of $75,000 and were purchased at 101 plus accrued interest. Interest dates are March 1 and September 1 . Maturity date is 9/1/23 d) September 1: Semiannual interest is received and amortization updoted for the Flagstaff bonds. e) November 1: Semiannual interest is received and amortization updated for the Tempe bonds. f) December 31: interest is accrued and amortization updated for both set of bonds. Required for Part I : a) Prepare journal entries for all dates. Present journal entries for the Tempe bonds (a, b, d, f), then journal entries for the Flagstaff bonds (c,e,f). No explanations or supporting computations are required. Use straight-line amortization. Do NOT use separate accounts for discounts and premiums; instead, net them into the Investments account. When computing amortization, round the monthly amortization amounts to the nearest cent. However, journal entry amounts can be rounded to the nearest dollar