I need help with C(2) and D. Thank you!(c) Prepare the journal entries to record the semiannual interest on (1) July 1, 2020, and (2) December 31, 2020. (d) If the fair value of Aguirre bonds is $335,764 on December 31, 2021, prepare the necessary adjusting entry. (Assume the fair value adjustment balance on December 31, 2020, is a debit of $3,142.) (e) Prepare the journal entry to record the sale of the bonds on January 1, 2022.

Current Attempt in Progress On January 1, 2020, Culver Company purchased $360,000, 8% bonds of Aguirre Co. for $332,201. The bonds were purchased to yield 10% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2025. Culver Company uses the effective-interest method to amortize discount or premium. On January 1, 2022, Culver Company sold the bonds for $333,764 after receiving interest to meet its liquidity needs. (a) Your answer is correct. Prepare the journal entry to record the purchase of bonds on January 1. Assume that the bonds are classified as available-for-sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Debt Investments 332201 cash 332201 (b) Your answer is correct. Prepare the amortization schedule for the bonds. (Round answers to O decimal places, e.g. 1,250.) Schedule of Interest Revenue and Bond Discount Amortization-Effective-Interest Method Bonds Purchased to Yield Interest Receivable Or Interest Revenue Bond Discount Amortization Date Cash Received 1/1/20 $ $ $ $ $ 7/1/20 14400 16610 2210 1/1/21 14400 16721 2321 7/1/21 14400 16837 2437 7/1/20 14400 16610 2210 1/1/21 14400 16721 2321 7/1/21 14400 16837 2437 1/1/22 14400 16958 2558 7/1/22 14400 17086 2686 1/1/23 14400 17221 2821 7/1/23 14400 17362 2962 1/1/24 14400 17510 3110 7/1/24 14400 17665 3265 1/1/25 14400 17829 3429 Total $ 144000 $ 171798 $ 27798 (c), (d) and (e) (c) Prepare the journal entries to record the semiannual interest on (1) July 1, 2020, and (2) December 31, 2020. If the fair value of Aguirre bonds is $335,764 on December 31, 2021, prepare the necessary adjusting entry. (Assume the fair value adjustment balance on December 31, 2020, is a debit of $3,142.) (d) (e) Prepare the journal entry to record the sale of the bonds on January 1, 2022. (Round answers to decimal places, eg. 2,500. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit (c) (1) July 1, 2020 Interest Receivable 14400 Debt Investments 2321 Debt Investments Interest Revenue ( (2) Dec 31, 2020 no entry Debt Investments 2321 Interest Revenue () (2) Dec 31, 2020 no entry no entry no entry (d) (e) cash 333764 cash Gain on Sale of Investments Equity Investments