E17-4B (Entries for Available-for-Sale Securities) Assume the same information as in E17-3B except that the securities are classified as available-for-sale. The fair value of the bonds at December 31 of each yearend is as follows. 2014 $430,000 2017 $450,

E17-4B (Entries for Available-for-Sale Securities) Assume the same information as in E17-3B except that the securities are classified as available-for-sale. The fair value of the bonds at December 31 of each yearend is as follows.
2014      $430,000        2017       $450,000
2015        425,000         2018         470,000
2016        420,000
Instructions
(a) Prepare the journal entry at the date of the bond purchase.
(b) Prepare the journal entries to record the interest received and recognition of fair value for 2014.
(c) Prepare the journal entry to record the recognition of fair value for 2015.