Concord Company invests $11.600,000 in 4% fixed rate corporate bonds on January 1, 2020. All the bonds are classified as available- for-sale and are purchased at par. At year-end, market interest rates have declined, and the fair value of the bonds is now $12.200.000 Interest is paid on January 1. Prepare journal entries for Concord Company to (a) record the transactions related to these bonds in 2020, assuming Concord does not elect the fair option; and (b) record the transactions related to these bonds in 2020, assuming that Concond Company elects the fair value option to account for these bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Date (a) Account Titles and Explanation (To record interest revenue) (To record fair value adjustment)) MacBook Pro Debit Credit