Pharoah Company purchased, on January 1, 2020, as an available-for-sale security, $71,000 of the 9%, 5-year bonds of Chester Corporation for $65,752, which provides an 11% return. Prepare Pharoah's journal entries for (a) the purchase of the investment, (b) the receipt of annual interest and discount amortization, and (c) the year-end fair value adjustment. (Assume a zero balance in the Fair Value Adjustment account.) The bonds have a year-end fair value of $67,450. Assume effective-interest amortization is used. (Round answers to decimal places, eg. 1,225. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit (a) ) (b) (0) Prepare the journal entry to record depreciation expense for 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation Dec. Depreciation Expense 31 672000 Accumulated Depreciation-Equipment 672000 e Textbook and Media List of Accounts Attempts: 3 of 3 used (d) The fair value of the equipment at December 31, 2021 is $3,264,000. Prepare the journal entry (if any) necessary to record this increase in fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31