On August 1, 2021. Pronghorn Corporation, a public company, purchased $92,400 of Alaska Ltd. five-year, 7% bonds at par. The bonds were purchased for trading purposes and pay interest semi-annually on January 31 and July 31 of each year. On December 31, 2021. Pronghorn's year end, the bonds' fair value was $92,920. The bonds were sold on February 1, 2022, for $93,840. Your answer is partially correct. Record the purchase of the bonds on August 1, 2021. (Credit account titles are automatically indented when the 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 Aug. 1 Investment in Associate 92400 Cash 92400 (To record purchase of investment.) Record any adjusting journal entries that are required at December 31, 2021. (Credit account titles are automatically indented when the 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. Round answer to 0 decimal places, e.g. 5,276.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Receivable 3234 Interest Expense 3234 (To accrue interest revenue.) Dec. 31 Investments at FVTPL 520 Investment Income or Loss 520 (To record fair value adjustment.) Indicate how the investment is presented on Pronghorn Corporation's December 31, 2021, balance sheet. PRONGHORN CORPORATION Balance Sheet (Partial) December 31, 2021 V Assets Long-Term Investments Investments at Fair Value through Other Comprehensive Income $ 92920 Record the receipt of the first interest payment on January 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answer to 0 decimal places, eg. 5,276.) Date Account Titles and Explanation Debit Credit Jan. 31 Cash 4674 Interest Receivable 3234 Interest Revenue 1440 (Collection of interest receivable.) Record the sale of the bonds on February 1, 2022. (Credit account titles are automatically indented when the 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 Feb. 1 Cash 93840 Investment in Associate 92400 Investment Income or Loss 1440 (To record sale of bonds.)