s Getting Started Imported From IE Imported From Fire Domain Manager 3. Prepare all appropriate journal entries related to the bond investment during 2016, assuming that Ithaca chose the fair value option when the bonds were purchased, and that Ithaca determines fair value of the bonds semiannually. Ithaca calculates interest revenue at the effective interest rate as of the date it purchased the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the investment in bonds with a face value of $320,000, a stated interest rate of 9% and a market yield of 10%. The bonds pay interest semi- annually Tobei Enter debits before credits. General Journal Debit Credit January 01, 2016 Clear entry View general journal