2.Max's Company invests in the bonds issued by CarmCorp.On 1/1/20 Max buys $60,000 of 5% bonds that pay interest on 1/1.They mature in 10 years and yield 6%.Max pays $55,584.On 12/31/20, the fair value of the bonds is $60,800.Assuming the bonds are classified as "Trading", prepare the journal entries for 1/1/20, 12/31/20, and 1/1/21.You may omit (leave out) the closing entries.

Answer: Debits Credits