On January 1, 2019, Rain Technology purchased at par $84,000, 5%, bonds of Lightyear Services Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Rain Technologys year ends on December 31. The following information applies to the fair value of Lightyear Services bonds:

	Bond Price
12/31/2019	$	82,000
12/31/2020		91,000
12/31/2021		86,000

Rain Technology sold the bonds on July 14, 2022, for $89,000.

3. Assuming that Rain purchased the bonds as available-for-sale securities, prepare journal entries at the end of each year and on the date of sale. Ignore interest. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1 2 3 4 5 Recognize the fair value of investments on December 31, 2019. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2019