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Exercise 17-4 your answer is partially correct. Try again. On January 1, 2017, Blossom Company purchased 12% bonds, having a maturity value of $287,000, for $308,758.85. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest received on January 1 of each year. Blossom Company uses the effective-interest method to allocate unamortized discount premium. The bonds are classified as available-for-sale category. The fair value of the bonds at December 31 of each year-end is as follows. 2017 2018 2019 $306,500 2020 $296,800 2021 $295,800 $297,700 $287,000 (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2017. (c) Prepare the journal entry to record the recognition of fair value for 2018, (Round answers to 2 decimal places, e.g. 2,525.25. 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 o for the amounts.) No. Date Account Titles and Explanation Debit Credit (a) Jan 1, 2017 Debt Investments 308,758.85 Cash 308,758.85 (b) Dec 31, 2017 Interest Receivable 34440 Debt Investments 3564.14 9 S. Interest Revenue 30875 (To record interest received) Fair Value Adjustment 1266.42 1266.42 Unrealized Holding Gain or Loss - Equity (To record fair value adjustment) Unrealized Holding Gain or Loss - Equity (c) Dec 31, 2018 Fair Value Adjustment Click if you would like to Show Work for this question: Open Show Work