Question: + HW 4-Chapter 17 -/10 E Question 11 of 22 Current Attempt in Progress Waterway Company invests $2.750.000 in 6% fixed rate corporate bonds on

+ HW 4-Chapter 17 -/10 E Question 11 of 22 Current Attempt in Progress Waterway Company invests $2.750.000 in 6% fixed rate corporate bonds on January 1, 2020. All the bonds are classified as watable for sale and are purchased at par At year-end, market interest rates have declined, and the fair value of the bonds is now 52,870,000. Prepare oumal entries for Waterway Company to (a) record the change in fair value at 12/31/20, assuming Waterway does not elect the fair value option: (b) record the transactions related to these bonds in 2020, assuming that Waterway Company elects the fair option to account for these bonds. (Credit account titles are automatically indented when amount is entered. Do not indent moral no entry is required, select "No Entry for the account titles and enter O for the amounts) Account Titles and Explanation Debit Credit (0) 1 eTextbook and Media List of Accounts

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