Question C please

On January 1, 2021, Wildhorse Ltd. a public company purchased $654,000 of 5-year, 8% bonds at par from Swifty Corporation Interest is received semi-annually on July 1 and January 1. Wildhorse purchased the bonds to earn interest. At December 31, 2021 the bonds were trading at 103 (a) Your Answer Correct Answer Your answer is correct Prepare the journal entry to record the purchase of the bonds on January 1. (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) Date Account Titles and Explanation Debit Credit Investments at Amortized Cost Jan. 1 654,000 654,000 (To record purchase of bond investment.) (b) Your Answer Correct Answer Your answer is correct Prepare the journal entry to record the receipt of interest on July 1, (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) Date Account Titles and Explanation Debit Credit July 1 26,160 26,160 Interest Revenue Collection of interest revenue.) lo Prepare any adjusting entries required at December 31. (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.) Date Account Titles and Explanation Debit Credit Dec. 31 Interven To accrue interest revenue.) Dec. 31 V To record fair value adjustment.)