Accounting for Debt Securities-Trading Greens Campany had the following transactions and adjustments related to a bond investment: 2019 Oct.1 Purchased $500,000 fore value of Skyline, Inc.'s eight percent bands at 97 plus a brokerage commission of $2,000. The hords pay interest on September 30 and March 31 and mature in 20 years, Greeris expects to sell the bonds in the near future, Dec. 31 Made the adjusting entry to record interest earned on investment in the Skyline bancs. Dec. 31 Made the adjusting entry to record the current fair value of the Skyline Donds. At December 31. the market value of the Skyline bonds was $490.000 2020 Mar. 31 Received the semiannual interest payment on investment in the Skyline bonds Apr.1 Sold the Skyine bond investment for $492,300 cash. Record the transactions and adjustments of the Greens Company using journal entries. General Journal Date Description Debit Credit 10/1/2019 Bond investment-trading (Skyline) 486,000 X Cash 0 186.000 x Torreord purchase of curtir 12/31/2019 Bond interest receivable 8.750 x Bond interest income 0 8,750 X o record interest earned on celt securities. 12/31/2019 Bond investrnient-trading (Skyline) 4,000 x Unrealized gain on investments (income 0 4,000 x To adjust securities to year-end fair value. 3/31/2020 Cash 17,500 x Bond interest receivable 0 8,750 x Bond interest income R.750 x To record receipt of interest on debt securities. 1/1/2020 Cash 102,300 Gain ari sale of investments 2,300 Bond investment trading (Skyline) O 490,000 To record sale of debt segurides