Grayson Products purchased as a short-term investment $190,000 of 8% bonds, dated January 1, on January 1, 2021. Management intends to include the investment in a short-term, active trading portfolio. For bonds of similar risk and maturity, the market yield was 10%. The price paid for the bonds was $169,000. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2021 was $180,000. On January 2, 2022, Grayson sold the bonds for $181,000. Required: Prepare the following journal entries: 1. To record the purchase of the investment on January 1, 2021. 2. To record the interest on June 30, 2021. 3. To record the interest on December 31, 2021. 4. To record the adjustment to fair value on December 31, 2021, if necessary. If no entry, leave the journal blank for December 31, 2021. 5. To record the sale of the investment on January 2, 2022