man. The bur W hat education ... EDUS Pearl Company loans Sarasota Company $2,110,000 at 6% for 3 years on January 1, 2020. Pearl intends to hold this loan to maturity and has the financia ability to do so. The fair value of the loan at the end of each reporting period is as follows. December 31, 2020 $2,161,000 December 31, 2021 2,130,000 December 31, 2022 2,110,000 Prepare the journal entrylies) at December 31, 2020, and December 31, 2022, for Pearl related to these bonds, assuming (a) it does not use the fair value option, and (b) it uses the fair value option. Interest is paid on January 1. (Credit account titles are automatically indented when amount is entered. Do not inder manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit Date Debit No. Account Titles and Explanation Credit (To record interest revenue) No. Date Account Titles and Explanation Debit Credit (b) (To record interest revenue) (To record fair value adjustment) (To record interest revenue) (To record fair value adjustment) Save for Later Attempts: 0 of 10 used Submit