may you please seperate the information for question one from question 2 and not put it all together, thank you

On January 1, 2021, Dawson Construction sold $800,000 of 6% bonds to Sowell Enterprise. The bonds mature on December 31, 2024 (4 years). For bonds of similar risk and maturity, the market yield was 8%. Interest is paid semiannually on June 30 and December 31. Sowell Enterprise purchased the bonds as an investment and plans to hold the bonds for approximately 2 years. The fair value of the bonds at 12/31/21 was $745,000. Sowell's fiscal year end is December 31 and 2020 was its first year of business. Required: 1. Prepare the fair value adjusting entry for Sowell Enterprise as of 12/31/21. Show your work I 2. Show or describe exactly and specifically what will appear on the Balance Sheet of Sowell Enterprise as of 12/31/21 related to these bonds