On January 1, 2022, Safety Corporation issued $140,000 par value, 5 -year bonds with a 4% stated interest rate. Interest is paid annually each December 31 . The market rate of interest on the date of the bond issue was 2.2%. The amortization table for the bond follows. Assume that Safety elected the fair value option on the date of issue. Fair value changes are not the result of instrument-specific credit risk. (Click the icon to view the amortization table.) Requirement Prepare the entry required to adjust the balance of the debt to fair value at the end of the first, second, and third years. (Record debits first, then credits. Exclude explanations from journal entries. Round all amounts to the nearest whole dollar.) Begin by recording the journal entry for the end of the first year