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5 Rantzow Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price. The company's fiscal year ends on December

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5 Rantzow Lear Company buys and sells debt securities expecting to earn profits on short-term differences in price. The company's fiscal year ends on December 31 The following selected transactions relating to Rantzow-Lear's trading account occurred during December 2018 and the first week of 2019 2010 Dec 17 Purchased 120 Grocery Supply Corporation bonde for $420,000 78 Received interest of $2,000 from the Grocera Supply Corporation bonds 31 Recorded a necessary adjusting entry relating to the docere supply corporation bonds, the market price of the bonds were $4,000 per bond 2011 Jan 5 Sold the Grocers Supply Corporation bonds for $450,000 Required: 1. 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.)

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