NOTE: 1. your solution is to be submitted via Blackboard by the deadline indicated 2. there are two parts to this assignment Part 1: Investment in Bonds (Debt Securities) Richman Co. purchased $600,000 of 8%, 5-year bonds from Carlin, Inc. on January 1, 2020, with interest payable each June 30 and December 31. Richman paid $624,948. The effective (yield) rate for comparable securities on the market was 7%. Management has the ability and intent to hold these bonds until they mature. Richman uses the effective interest method to account for amortization of premiums and discounts on its investments. The fair value of the Carlin, Inc. bonds at certain key dates was: December 31, 2020: $625,500 December 31, 2021: 612,000 Required a. Prepare the journal entries necessary to account for this investment at each of the following dates: (1) January 1, 2020 (2) June 30, 2020 (3) December 31, 2020 (4) June 30, 2021 (5) December 31, 2021 b. What would be different about your answers in item a. if these bonds were designated as Available for Sale rather than "Held to Maturity"? c. What would be different about your answers in item a. if these bonds were designated as "Trading rather than "Held to Maturity