Weather Corporation issued $200,000,000 of 6% debentures (bonds) on April 1, 2022. The bonds pay interest semiannually on April 1 and October 1. The first interest payment starts on 10/1/2022. The maturity date on these bonds is April 1, 2031. The Corporation uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective interest rate of 8%. Weather Corporation's fiscal year-end is December 31 of each year. The debentures are callable at the issuers discretion.

Prepare all journal entries (including year-end adjusting entries) for the year ended December 31, 2022, related to the bonds. Journal entries would include Weather Corporation's decision to use fair value accounting for these bonds. On December 31, 2022, the bonds have a fair value of $150,000,000. Any change in fair value for the bonds results from interest rate changes.

Please include steps and explanations. Thank you.