On January 1, 2021, Greenspace Inc. purchased a 5 year, $ 100,000 bond for trading purposes, paying interest of 7% semi-annually every January 1 and July 1. On December 31, 2021, Greenspace Inc. year end, the bonds fair value was $101,000. The bonds were sold on February 1, 2022 for $102,000.

Required:

a)

Record the purchase of the bonds on January 1, 2021.

b)

Record any adjusting journal entries that are required at December 31, 2021

c)

Record the receipt of the first interest payment on January 1, 2022

d)

Record the sale of bonds on February 1, 2022