Coronado Company invests $$9,000,000$ in $4\%$ fixed rate corporate bonds on January $1,2020.$ All the bonds are classified as availablefor$-$sale and are purchased at par. At year$-$end, market interest rates have declined, and the fair value of the bonds is now $$9,648,000.$ Interest is paid on January $1.$

Prepare journal entries for Coronado Company to $($a$)$ record the transactions related to these bonds in $2020,$ assuming Coronado does not elect the fair option; and $($b$)$ record the transactions related to these bonds in $2020,$ assuming that Coronado 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 O for the amounts.$)$