Metlock Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions. $38,600 Feb. 1, 2020 April 1 Sharapova Company common stock, $80 par, 160 shares U.S. government bonds, 12%, due April 1, 2030, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $48,600, dated March 1, 2020, purchased at 104 plus accrued interest, interest payable annually on March 1, due March 1, 2040 108,000 July 1 52,488 (a) Your answer is correct. Prepare entries necessary to classify the amounts into proper accounts, assuming that the debt securities are classified as available-for-sale. (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.) Account Titles and Explanation Debit Credit Debt Investments 158,544 Equity Investments 38,600 Interest Revenue 1,944 Investment 199,088 e Textbook and Media List of Accounts (b) Your answer is correct. Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2020, using the straight- line method. (Round answers to 0 decimal places, e.g. 2,500. 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.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Interest Receivable 8.100 Interest Revenue 8,051 Debt Investments 49 e Textbook and Media List of Accounts Attempts: 1 of 3 used The fair values of the investments on December 31, 2020, were: Sharapova Company common stock U.S. government bonds McGrath Company bonds $32,400 136,200 53,600 What entry, if any, would you recommend be made? (Round answers to 0 decimal places, e.g. 2,500. 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 O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020 Fair Value Adjustment 28,200 Gain on Sale of Investments 28,200 (Entry for debt investment) Fair Value Adjustment 1.112 Gain on Sale of Investments 1.112 (Entry for equity investment)