On January 1, 2020. Cairo Company purchased 12% bonds, having a maturity value of $400,000, for $430,326. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest receivable December 31 of each year. Cairo's business model is to hold these bonds to collect contractual cash ts. Required: A. Prepare the journal entry at the date of bond purchase. 8. Prepare the journal entry to record the interest received and the amortization for 2020, c. Prepare and entries necessary at December 31, 2020, using the fair value option, assuming the fair value of the bonds is $430,000