i have two uncompleted part if you could help.
On January 1, 2020, Sweet Company purchased 12% bonds, having a maturity value of $316,000 for $339,957.48. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Sweet Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale category. The fair value of the bonds at December 31 of each year-end is as follows. 2023 2020 2021 2022 $337,900 $325,300 $324,200 2024 $326,400 $316,000 (a) (b) (c) Prepare the journal entry at the date of the bond purchase. Prepare the journal entries to record the interest revenue and recognition of fair value for 2020. Prepare the journal entry to record the recognition of fair value for 2021. (Round answers to 2 decimal places, eg. 2,525.25. 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 for the amounts.) Debit Credit Date ,2020 Account Titles and Explanation Debt Investments 339.957.48 Cash 339.957.48 31, 2020 Interest Receivable 37920 3924.25 33995.75 1866.77 Debt Investments Interest Revenue (To record interest received) Fair Value Adjustment Unrealized Holding Gain or Loss - Equity (To record fair value adjustment) Unrealized Holding Gain or Loss - Equity Fair Value Adjustment 1866.77 31, 2021 8050.22 8050.22 Flounder Company has the following securities in its portfolio on December 31, 2020. None of these investments are accounted for under the equity method. Investments Cost Fair Value 1,500 shares of Gordon, Inc., Common $79,000 $74,500 5,000 shares of Wallace Corp. Common 165,600 160,100 400 shares of Martin, Inc., Preferred 59,600 61,000 $304,200 $295,600 All of the securities were purchased in 2020. In 2021, Flounder completed the following securities transactions. March 1 April 1 Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200. Bought 700 shares of Earnhart Corp., Common @ $75 plus fees of $1,300. Flounder's portfolio of equity securities appeared as follows on December 31, 2021. Investments 5,000 shares of Wallace Corp. Common 700 shares of Earnhart Corp., Common 400 shares of Martin, Inc., Preferred Cost $165,600 53,800 59,600 $279,000 Fair Value $160,100 50,300 57.700 $268,100 Prepare the general journal entries for Flounder Company for: (a) (b) (c) (d) The 2020 adjusting entry The sale of the Gordon stock. The purchase of the Earnhart stock. The 2021 adjusting entry for the trading portfolio. (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 for the amounts.) No. Account Titles and Explanation Debit Credit (a) Unrealized Holding Gain or Loss -Income 8600 Fair Value Adjustment 8600 (b) Cash 66300 Loss on Sale of Investments 8200 Equity Investments 74500
