Metal Sonic Corporation had the following transactions during the year involving debt securities and stock investments with less than $20\%$ ownership influence. Prepare Metal Sonic$$s journal entries for the following transactions using cost method:

Jan. $2$

Purchased $$200,000$ of Vector$$s $6\%,$ three$-$year bonds. Interest payments are paid annually on December $31.$

May $01$

Purchased $3,000$ shares of Rouge Co$.$ stock for $$8,400.$

Jul. $15$

Received a $$0\mathrm{.}75$ per share cash dividend on the Rouge Co$.$ shares.

Aug. $10$

Purchased $2,000$ shares of Jet Co$.$ stock at $$6,800.$

Nov. $30$

Sold $2,000$ shares of Rouge Co$.$ stock at $$5$ per share.

Dec. $15$

Received a $$1\mathrm{.}35$ per share cash dividend on the Jet Co$.$ shares.

Dec. $31$

Received the annual interest on the Vector$$s bonds.

Dec. $31$

Sold the Vector bonds for $$203,000.$

Dec. $31$

Prepare an adjusting entry to record the fair value adjustment on the stock investments. At December $31,$ the Rouge Co$.$ stock has a fair value of $$3\mathrm{.}40$ per share, and the Jet Co$.$ stock has a fair value of $$3\mathrm{.}00$ per share.