5. On Dec. 31, 2015, the Xray Corp. acquired $300,000 in 8%, 20-year bonds in a private sale for $294,500, including brokerage fees. Xray decided to account for these bonds using the "fair value option". These bonds pay interest semiannually on June 30 and Dec. 31 of each year. Because these bonds are not actively traded in the marketplace, Xray was required to impute the market interest rate on these bonds at the end of each year and it imputed the following rates: Dec 31, 2016 Dec 31, 2017 7.75% 8.15% Required: (a) Make the necessary Dec 31, 2015 to record the purchase of these bonds. (b) Make all of the necessary entries related to these bonds for the 2016 calendar year. (c) Make any necessary Dec. 31, 2017 entries related to these bonds