Exercise 14-19 Martinez Company commonly issues long-term notes payable to its various lenders. Martinez has had a pretty good credit rating such that its effective borrowing rate is quite low (less than 8% on an annual basis), Martinez 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. Carrying Value Fair Value December 31, 2017 December 31, 2018 $51,800 42,100 36,300 $51,800 40,600 38,300 December 31, 2019 (a) Prepare the journal entry at December 31 Martinez's year-end for 2017, 2018 and 201 to recor the fair value option for these notes in entry s required, select "No Entry" for the account titles and enter 0 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, 2017 Dec. 31, 2018 Dec. 31, 2019 (b) At what amount will the note be reported on Martinez's 2018 balance sheet