On January 1, Year 5, Ornate Company Ltd. purchased US$2,200,000 of the bonds of the Gem Corporation. The bonds were trading at par on this date, pay interest at 12% each December 31, and mature on December 31, Year 7. The following Canadian exchange rates were quoted during Year 5:

January 1, Year 5                                            US$1 = CDN$1.3q2

December 31, Year 5                                    US$1 = CDN$1.341

Exchange rates changed evenly throughout the year. These bonds were trading at 102 at December 31, Year 5.

Required:

Prepare the journal entries for Year 5 assuming that the investment in bonds is 

(a) Held to maturity, 

(b) Held for trading, and

(c) Available for sale.