c$.$ Record the adjusting entry by West Company on December $31$ of Year $1.$ The fair value of the bonds at December $31$ of Year $1$ was $$121,500.$

Date Account Name Debit Credit

Dec. $31,$ Year $1$

$0$

$0$

Answer $12$

$0$

$0$

Answer $13$

$0$

$0$

Answer $14$

To record year end adjusting entry.