dt Pina Company commonly issues long-term notes payable to its various lenders. Pina has had a effective borrowing rate is quite low (less than 8% on an annual basis). Pina has elected to use the fair value option for the long-term notes issued to Barclay's Bank and has the following data related to the carrying and fair value for these notes. Any changes in fair value are due to changes in market rates, not credit risk. December 31, 2020 December 31, 2021 December 31, 2022 Carrying Value $50,400 41,500 32,600 Fair Value $50,400 40,000 34,400 (a) Prepare the journal entry at December 31 (Pina's year-end) for 2020 2021, and 2022, to record the fair value option for these notes. (If no entry is required, select "No Entry" for the account titles and enter for the amounts.Credit account titles are automatically Indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Date Dec 31, 2020 Dec 31, 2021 (a) Prepare the journal entry at December 31 (Pina's year-end) for 2020 2021 and 2022 to record the fair value option for these notes. (If no entry is required, select "No Entry" for the account titles and enter for the amounts.Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec 31, 2020 Dec 31, 2021 Dec 31, 2022 (6) At what amount will the note be reported on Pina's 2021 balance sheet? Note to be reported on Pins's 2021 balance sheet 5 (b) At what amount will the note be reported on Pina's 2021 balance sheet? Note to be reported on Pina's 2021 balance sheet $ (c) What is the effect of recording the fair value option on these notes on Pina's 2022 income? The effect of recording the fair value option would result in unrealized holding of $