CALCULATOR Problem 17-3 Waterway Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions Feb 1, 2017 Sharapova Company common stock, $80 par, 160 shares $38,600 April 1 U.S. government bonds, 12%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each 109,000 July 1 McGrath Company 12% bonds, par $48,600, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually on March 1, due March 1, 2037 52.488 Your answer is correct. Prepare entries necessary to dassify the amounts into proper accounts, assuming that all the securities are classified as available for sale (Credit account titles are automatically indente Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Account Titles and Explanation Debit Credit Equity Investments 38000 Debt Investments 156544 Interest Revenue 1944 Inwestment 199088 Your answer is partially correct. Try again. Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2017, using the straight-line method. (Round answers to decimal places... 2.500 automatically indented when amount is entered. Do not indent manually. If no entry is required select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31, 2017 Interest Receivable 8100 Debt Investments Interest Revenue The fair values of the investments on December 31, 2017, were CALCULATOR PINTERVE Sharapova Company common stock $32,400 U.S. government bonds 136,200 McGrath Company bonds 53,600 What entry, if any, would you recommend be made? (Round answers to decimal places, e.g. 2,500. Credit account titles are automatically indented when amount is entered. Do not inder entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31, 2017 Fair Value Adjustment Unrealized Holding Gain or Loss - Equity (Entry for debt investment) Unrealized Holding Gain or Loss - Equity Fair Value Adjustment (Entry for equity investment) Your answer is partially correct. Try again. The U.S. government bonds were sold on July 1, 2018, for $129,200 plus accrued interest. Give the proper entry. (Credit account titles are automatically indented when amount is ente manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jul 1, 2018 Cash Debt Investments Interest Revenue Gain on sale of Investments Click if you would like to Show Work for this questions Open Show Work