b

Metlock Corporation purchased trading investment bonds for 560.000 at par. Ae December 31 . Metlock recelved annual interest of $2,400, ard the fair value of the bonds was $57,400 Prepare Metlock' journal entries for (a) the parchase of the imestment, (b) the interest received, and icl the fair value adjustment. (Assume a zero balance in the Fair Value Adjus tment account.) (Lhe ail debit entries before credit entries Credit occount tities are outomotically lindented when amount is entered. Do not Indent manuolly if no entry is required, select "No Entry" for the account ticies and enter O for the amounta