*Problem 17-3 Metlock Corp. carries an account in its general ledger called Investments, which contained debits for investment purchases, and no credits, with the following descriptions Feb. 1, 2017 Sharapova Company common stock, $120 par, 240 shares April 1 uly 1 $40,300 U.S. government bonds, 11%, due April 1, 2027, interest payable April 1 and October 1, 108 bonds of $1,000 par each McGrath Company 12% bonds, par $45,000, dated March 1, 2017, purchased at 104 plus accrued interest, interest payable annually on March 1, due March 1, 2037 108,000 48,600 Prepare entries necessary to classify the amounts into proper accounts, assuming that all the securities are classified as available-for-sale. (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 0 for the amounts.) Account Titles and Explanation Debit Credit Prepare the entry to record the accrued interest and the amortization of premium on December 31, 2017, using the straight-line method. (Round answers to 0 decimal places, e.g. 2,500. 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 0 for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 The fair values of the investments on December 31, 2017, were: Sharapova Company common stock U.S. government bonds McGrath Company bonds $31,600 113,200 55,700