On January 1, 2020, Sharp Company purchased $40.000 of Sox Company bonds, at a time when the market rate was 5%. The bonds mature on December 31, 2024, and pay interest annually on December Sharp plans to and has the ability to hold the tionds until maturity Assume that Sharp uses the effective interest method to amortize any premium or discount on investments in hones At December 31, 2020. the bonds are quoted at 9 Prepare the entry for the purchase of the debt investment on January 1, 2020 b. Prepare the entry for the receipt of interest on December 31, 2020 cRecord the entry to adjust the investment to fair value on December 31, 2020, it applicable Note: Do not round until your final answers. Round your final answers to the nearest whole dollar Note: List multiple debits or credits (when applicable in alphabetical order Note: If a journal entry isn't required for the transaction, select "N/A as the account names and leave the brand Cr answers blank (zero) Date Account Name Dr. Or Sari 1.200 . Dec 11.2000 . 0 0 0 Dec 21, 2020 0