Presented below is information taken from a bond investment amortization schedule with related fair values provided. These bonds are classified as available-for-sale. 12/31/17 12/31/18 12/31/19 Amortized cost Fair value $510,900 $516,800 $545,100 $534,600 $546,300 $546,300 (a) Indicate whether the bonds were purchased at a discount or at a premium. Discount (b) Prepare the adjusting entry to record the bonds at fair value at December 31, 2017. The Fair Value Adjustment account has a debit balance of $1,100 prior to (c) Prepare the adjusting entry to record the bonds at fair value at December 31, 2018 (Credit account titles are automatically indented when amount is entered. Do not indent manual y If no entry s required, select o Entry or the adjustment. account titles and enter O for the amounts.) Credit Debit Account Titles and Explanation Date No. (b) Dec. 31, 2017 Fair Value Adjustment (c) Dec. 31, 2018