CKH Limited invested its excess cash in three bonds as shown below on 1 January 2020: $100,000 of 8 percent annual coupon bonds of M&M at a price of $106,930.21. The maturity and yield are 4 years and 6 percent respectively. $50,000 of 8 percent annual coupon bonds of HHCC at a price of $47,513.15. The maturity and yield are 3 years and 10 percent respectively. $40,000 of 4 percent annual coupon bonds of IA at a price of $43,046.18. The maturity and yield are 4 years and 2 percent respectively. CKH intends to hold M&M until maturity. HHCC is held with intention to sell before maturity but IA is only for trading. Its financial year ended is on 31 December. The estimated fair value of the bonds as at 31 December 2020 are shown as below. M&M HHCC IA $ 106,000 49,500 41,000 All the interest are payable on 31 December each year. Required: [All figures MUST be rounded to an integer (e.g. 50% and $125,000) by taking full decimal places in the middle steps and round the final answers into the whole dollar amount] a. Prepare ALL necessary journal entries to record the above transactions and events for 2020. b. On 1 January 2021, CKH sells the IA bond for $42,000. Prepare all the necessary journal entries for this transaction. (Notes: You are required to state the date and the workings in detail for the three debt investments separately when preparing journal entries. Otherwise, marks may be deducted.)