Problem 17-3 Oriole 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 July 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 108,000 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 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 O for the amounts.) Account Titles and Explanation Debit Credit LINK TO TEXT LINK TO TEXT 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 O for the amounts.) DateAccount Titles and Explanation Debit Credit Dec. 31, 2017 LINK TO TEXT LINK TO TEXT 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 What entry, if any, would you recommend be made? (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 O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 (Entry for debt investment) (Entry for equity investment) LINK TO TEXT LINK TO TEXT The U.S. government bonds were sold on July 1, 2018, for $114,000 plus accrued interest. Give the proper entry. (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 Jul. 1, 2018 Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT LINK TO TEXT