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.) No Date General Journal Debit Credit December 17, 202 Investment in bonds 350,000 Cash 350,000 1 2 2,000 December 28, 202 Cash Interest revenue O 2.000 3 50,000 December 31, 202 Fair value adjustment Gain on investments (unrealized, NI) > 50,000 4 350,000 January 05, 2022 Loss on investments (unrealized, NI) Fair value adjustment 350,000 5 395,000 January 05, 2022 Cash Fair value adjustment Investment in bonds 45,000 350,000 Pour Required 2 2021 Dec. 17 Purchased 100 Grocers' Supply Corporation bonds at par for $350,000. 28 Received interest of $2,000 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. 2022 Jan. 5 sold the Grocers' Supply Corporation bonds for $395,000. 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 Indicate any amounts that Rantzow-Lear Company would report in its 2021 balance sheet and income statement as a result of this investment. Balance Sheet December 31, 2021 Current Assets Gain on investments Income Statement: Interest revenue Gain on investments x $ 400,000 $ 2,000 50,000