On December 31, 2017, Tarnarisk Corp. had $12,400,000, 8.0% fixed-rate nate outstanding payable i 2 years. Tt decides to enter into a 2-year swap with Chicagn First Bank to convert the fixed-rate debt to variable-rate debt. The terms of the swap indicate that Tamarisk will receive interest at a fixed rate of 8.0% and will pay a variable rate equal to the 6 month LIBOR rate, based on the s 12,400,000 amount. The LIBOR rate on December 31, 2017, is 7.0%. The LIBOR rate will be reset every 6 months and will be used to determine the variable rate to be paid for the following 6-month periad To record the settlement of the semiannual swap amount.) To record the change in fair value of the debt.) Tamarisk Corp, designates the swap as a fair value hedge. Assume that the hedging relationship meets all the conditions necessary for hedge accounting. The G-month LIBOR rate and the swap and debt fair values are as follows. Date G-Month LIBOR Rate Swap Fair Value Debt Fair Value December 31, 2017 lune 30, 2018 December 31, 2018 7.0% 7.5% 6.0 % $12,400,000 12,206,400 12,461,530 (To record the change in fair value of the swap.) (193,600) 61,530 Present the journal entries to record the following transactions. (1) The entry, if any, to record the swap on December 31, 2017 (2) The cntry to record the semiannual debt interest payment on Junc 30, 2018, The entry to record the settlement of the semiannual swap amount receivables at 8.0%, less amount payable at LIBOR, 7.0% (4) The entry to rerxord the change in the fair value of the debt ue 30, 2018. (5) The entry to rerxord the change in the fair value of the swap ae30, 2018. (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 0 for the amounts.) No. Date Account Titles and Explanation Debit Credit To record the semiannual debt interest payrment.)