On January 1, 2021, Marin Inc., a public company, purchased $470,000 of Pearl Corporations five-year, 5% bonds for $491,109 when the market interest rate was 4%. Interest is received semi-annually on July 1 and January 1. Marins year end is December 31. Marin intends to hold Pearls bonds until January 1, 2026, the date the bonds mature. The bonds fair value on December 31, 2021, was $480,000.

Record the purchase of the bonds on January 1, 2021.

Date	Account Titles and Explanation	Debit	Credit
Jan. 1
	(To record purchase of investment.)

Prepare the entry to record the receipt of interest on July 1, 2021.

Date	Account Titles and Explanation	Debit	Credit
Jul. 1
	(To record collection of interest on bonds.)

Prepare the adjusting entry required at December 31, 2021.

Date	Account Titles and Explanation	Debit	Credit
Dec. 31
	(To accrue interest revenue.)

Show the financial presentation of the bonds for Marin on December 31, 2021. (Round answers to 0 decimal places, e.g. 5,276.)

MARIN INC. Partial Balance Sheet December 31, 2021Year Ended December 31, 2021Quarter Ended December 31, 2021
Intangible AssetsShort-Term InvestmentsCurrent AssetsProperty, Plant and EquipmentNon-Current Assets
Investment Income or LossLong-Term Investment at FVTOCIBondsInterest ReceivableInterest PayableShort-Term Investment at FVTPLBondsShort-Term Investment at ACBondsCashInvestments at Amortized Cost		$

Prepare the entry to record the receipt of interest on January 1, 2022.

Date	Account Titles and Explanation	Debit	Credit
Jan. 1
	(Collection of interest receivable.)

Prepare the entry to record the receipt on maturity of the bonds on January 1, 2026. Assume the entry to record the last interest payment has been recorded.

Date	Account Titles and Explanation	Debit	Credit
Jan. 1
	(To record maturity of bond investment.)

How would your answers to parts (a) through (c) change if the bonds were purchased for the purpose of trading?

Date	Account Titles and Explanation	Debit	Credit
Jan. 1
	(To record purchase of investment.)
Jul. 1
	(To record collection of interest on bonds.)
Dec. 31
	(To accrue interest revenue.)
Dec. 31
	(To record fair value adjustment.)