Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of $930 million on January 1, 2018. The bonds sold for $860.034.720 and mature on December 31, 2037 (20 years). For bonds of similar risk and maturity the market yleld was 12%. Interestis paid semiannually on June 30 and December 31 Federal determines interest at the effective rate. Federal elected the option to report these bonds at their fair value. On December 31, 2018, the fair value of the bonds was $850 million as determined by their market value in the over-the-counter market. Assume the fair value of the bonds on December 31, 2019 had risen to $856 million Required: Complete the below table to record the following journal entries. 1. & 2. Prepare the journal entry to adjust the bonds to their fair value for presentation in the December 31, 2018, balance sheet, and adjust the bonds to their fair value for presentation in the December 31, 2019, balance sheet Federal determined that one half of the Increase in fair value was due to a decline in general interest rates. Complete this question by entering your answers in the tabs below. Calculation General Journal Complete the below table to record the following journal entries. (Negative amount should be indicated by a minus sign. Round Final answers to the nearest whole dollars.) Semiannual Interest Cath Interest Bond Interest Unrealized Increase in Paid Fair Value Period-End Expense Carrying Value Balance Holding Gain (los) 01/01/2018 $ 860 034 720 06/30/2018 $ 0 12/31/2018 0 0 $ 850,000,000 06/30/2019 0 0 0 12/31/2019 0 0 S 856,000,000