16 01:14:21 Rantzow-Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price, and holds these investments in its trading portfolio. The company's fiscal year ends on December 31. The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2021 and the first week of 2022. 2021 Dee. 17 Purchased 120 Grocers Supply Corporation bonds at par for $420,000. 2022 28 Received interest of $2,800 from the Grocers Supply Corporation bonds. 31 Recorded any necessary adjusting entry relating to the Grocers Supply Corporation bonds. The market price of the bond was $4,000 per bond. Jan. 5 Bold the Grocers' Supply Corporation bonds for $450,000. Required: 1. Prepare the appropriate journal entry or entries for each transaction. 2. Indicate any amounts that Rantzow-Lear Company would report in its 2021 balance sheet and income statement as a result of this investment. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the appropriate journal entry or entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 34 5 Purchased 120 Grocers' Supply Corporation bonds at par for $420,000.