On August 1, 2021, Bramble Corporation, a public company, purchased $74,400 of Alaska Ltd. five-year, 7% bonds at par. The bonds were purchased for trading purposes and pay interest semi-annually on January 31 and July 31 of each year. On December 31, 2021, Brambles year end, the bonds fair value was $74,740. The bonds were sold on February 1, 2022, for $75,480.

Record the purchase of the bonds on August 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Record any adjusting journal entries that are required at December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answer to 0 decimal places, e.g. 5,276.)