Exercise 14-19 Sandhill Company commonly issues long-term notes payable to its various lenders. Sandhill has had a pretty good credit rating such that its effective borrowing rate is quite low (less than 8% on an annual basis). Sandhill has elected to use the fair value option for the long-term notes issued to Barclay's Bank and has the following data related to the carrying and fair value for these notes. Any changes in fair value are due to changes in market rates, not credit risk. Carrying Value Fair Value December 31, 2017 December 31, 2018 December 31, 2019 $48,600 42,400 35,100 $48,600 40,900 37,000 (a) Prepare the journal entry at December 31 (Sandhill's year-end) for 2017, 2018, and 2019, to record the fair value option for these notes. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.Credit account tities are automatically indented when amount is entered. Do not indent manually.) l@iaRon Arceuliiii:, llllessoniiel ExqolkdlintaR0l@Mil Debit Credit Dec. 31, 2017 Dec. 31, 2018