On July 1, 2023, Kabir Company, a private company, decided to buy $303,000 worth of 6%, 14-year bonds at par, issued by a private company in the US. The semi-annual payments are made on January 1 and July 1. The company intends to sell these bonds within the next six to nine months. Kabir Company records the bonds using the fair value through net income method, in compliance with ASPE. Kabir Company has a year-end of September 30. Required a) Record acquisition of the bonds. Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Date Jul 1 Account Title and Explanation Debit Credit To record acquisition of bonds at par b) Assume that on September 30, 2023, the market value of the bonds decreased significantly to $272,700 due to a change in market interest rate. Prepare the journal entry to make the adjustment on this date. You do not need to record the interest accrued for this question. Date Sep 30 Account Title and Explanation To record fair value adjustment loss Debit Credit